MORE FROM KrASIA

TikTok rakes in USD 177 million in 2019

That’s more than five times the amount from one year prior.

Photo:Shutterstock.com

TikTok earned USD 176.9 million from advertisers and in-app sales last year, Chinese media outlet IFeng reported on Friday, citing data from market intelligence provider Sensor Tower. The revenue from Apple and Android users was five times the amount in 2018.

The figure does not include revenue from third-party Android stores. Chinese iOS users splurged USD 122.9 million on TikTok, while users in the United States poured in USD 36 million. TikTok fans from the United Kingdom trailed behind and spent USD 4.2 million.

TikTokkers can purchase add-ons like 3D or augmented reality filters, as well as stickers.

TikTok and its domestic equivalent in China, Douyin—which were developed by ByteDance—had a combined 740 million downloads last year, overtaking Facebook and Messenger to become the world’s second most downloaded app behind WhatsApp, South China Morning Post reported, citing data compiled by Sensor Tower.

Despite its virality, TikTok accounts for only a minor part of ByteDance’s earnings. The Beijing-based startup generated RMB 140 billion (USD 20 billion) in revenue last year, marking a 180% bump from 2018, according to Chinese media outlet Jiemian. However, the company has disputed the figure.