This is almost 16% of the entire industry
According to a Bloomberg report, TikTok became the first app in the world to reach $10 billion in spending within a year.
Despite being a social network without any notable purchases, TikTok allows users to pay their favorite streamers and creators — hence the costs. And the gigantic amount is due to the popularity of this service.
In total, at the end of 2023, user spending in applications (excluding games) amounted to $64 billion, compared to $57.5 billion in 2022. That is, TikTok accounted for more than 15% of the total amount. Interestingly, the report says that user spending in apps exceeded spending in games.
It can also be noted that on average in 2023, smartphone users spent about 5 hours a day on their mobile device. The leader was Indonesia with a result of just over 6 hours per day.