TikTok Net Worth, Users, & Revenue 2024 | Priori Data (2024)

TikTok Overview

TikTok Dominates Google Play Among Android Users in the US

According to Sensor Tower data on Google Play, TikTok was a highly popular app among Android users in the United States from November 1, 2022, to January 29, 2023.

The app was classified as “Overall” and “Social” and was available for free download.

The data showcases TikTok’s continued dominance in the social media space on the Google Play platform.

TikTok Releases 2024 Trend Forecast Report: What’s Next

TikTok has released its 2023 Trend Forecast Report, “What’s Next.” The report and research by prioridata predict three major trend forces for the upcoming year on the platform: Actionable Entertainment, Making Space for Joy, and Community-Built Ideals.

Actionable Entertainment refers to content that is both entertaining and informative.

Making Space for Joy emphasizes the importance of spreading happiness. Community-Built Ideals highlights the niche communities on TikTok that bring people together and expand their interests.

The report aims to help marketers understand changing consumer needs and succeed on the platform.

How Many People Use TikTok?

TikTok is forecast to have 834.3 million monthly users worldwide in 2024, ranking 3rd among the Big Five social networks.

The app’s rapid growth saw its user base more than double from 291.4 million in 2019 to 655.9 million in 2021.

TikTok’s projected approach to 1 billion users by 2025 is lower than its self-reported figure due to exclusion of nonhuman, spam, and duplicate accounts and only counting logged-in users.

Most popular TikTok users worldwide 2022

A content creator named Khabane Lame became the person with the most followers on TikTok in November 2022 i.e., 153 million subscribers.

Dancer Charli D’Amelio was second with 150 million followers, whereas Bella Poarch was third with 923 million followers.

Most-followed creators on TikTok worldwide as of November 2022

Gen Z usage of TikTok

Gen Z social media users widely prefer TikTok, Instagram, and Snapchat, but TikTok was the most popular of the three in 2021, with 63% of Gen Z users using it weekly.

In 2021, the average weekly TikTok usage time was 10.4 hours for a Gen Z user. Despite TikTok’s popularity among young age groups, Instagram was used by more people overall.

In 2021, more women were using TikTok to create content as compared to men.

Social media usage worldwide

TikTok had 740 million first-time downloads in 2021, a decrease from 980.7 million in 2020 and closer to 738 million in 2019.

Despite the COVID-19 pandemic boosting social media use, it wasn’t TikTok’s highest YoY increase in downloads.

The highest was from 2017 to 2018, with a 524 million increase. TikTok still lags behind other popular social media platforms, ranking 7th with 1 billion monthly active users. The top spot is held by Facebook, with 2.89 billion users.

TikTok user behavior

90% of TikTok users open the app multiple times a day, indicating daily usage by 9/10 users.

Generally, a majority of users favor viewing videos and engaging with shared content over creating their own.

TikTok’s ad revenue

TikTok’s ad revenue in 2023 is forecasted to reach $18.04 billion, a 55% increase from the previous year. In 2022, the revenue was $11.04 billion, a 200% yearly increase.

Analysts attribute the growth to TikTok’s popularity among teens and its focus on improving in-app shopping and social commerce.

The ad revenue is expected to continue growing, with a 30.7% increase predicted in 2024 to reach $23.58 billion. The annual revenue is forecasted to grow 70-fold between 2019 and 2024.

Top TikTok categories

TikTok is a popular short-video platform with a variety of content categories. Some of the most popular categories include:

• Dance and lip-sync videos
• Comedy skits and pranks
• DIY and tutorials
• Pets and animals
• Fashion and beauty
• Music and dance challenges
• Food and cooking
• Travel and adventure
• Sports and Fitness
• Vlogs and lifestyle

TikTok Fun Facts

1. TikTok was launched in September 2016 under the name “Musical.ly” and merged with Chinese app “Douyin” in November 2017.
2. TikTok has over 1 billion monthly active users globally.
3. TikTok was the most downloaded non-game app of 2020, with over 738 million downloads.
4. TikTok is owned by the Chinese company ByteDance, with headquarters in Beijing and offices in various countries.
5. TikTok’s algorithm uses machine learning to suggest content to users based on their interests and past behavior on the app.
6. TikTok has become popular for its short-form, 15-60 second videos, often set to music and featuring lip-syncing, dancing, and comedic skits.
7. TikTok has faced criticism for its privacy policies and content moderation, as well as political tensions between the U.S. and China.
8. In 2020, the U.S. government threatened to ban TikTok over national security concerns, leading to a proposed deal for the app’s U.S. operations to be taken over by American companies.

F.A.Q

Ques 1. What content is most popular on TikTok?

Ans. The most popular content on TikTok includes dance and lip-sync videos, comedy skits, challenges, and vlogs. Trends and challenges also play a significant role in the app’s popularity.

Ques 2. How many daily active users does TikTok have?

Ans. With 1 billion active users in 154 countries, TikTok is a widely popular social media platform as of 2023.

Ques 3. How many people are on TikTok?

Ans. TikTok has more than 1 billion users.

Ques 4. How popular is TikTok in US?

Ans. TikTok is highly popular in the US, with over 100 million monthly active users and leading in App Store downloads for 7 consecutive quarters as of 2022. 47.4% of its user base in the US is aged 10-29, and 31.3% is aged 40 and over.

Ques 5. What age uses TikTok the most?

Ans.TikTok’s largest demographic is Gen Z, specifically 13-24 years old.

Ques 6. Who is TikTok’s target audience?

Ans. TikTok’s target audience is primarily Gen Z (13-24 years old).

Ques 7: How much is tiktok worth?

Ans: Tiktok is worth $84 Billion as of this year 2024.