It all started in 2016 when ByteDance launched an app called “Douyin” in China. The app became popular in 2017 under the name TikTok. It allows users to create and upload short-form videos and discover content from other creators. This unique content format of TikTok has given other social media networks quite tough competition.
As a result of its immersive experience, it has gained immense popularity among users worldwide. In 2024, TikTok isn’t just a platform for dance challenges anymore. It’s a powerful tool for education, shopping, and even social change. This blog offers some amazing yet valuable facts about TikTok in 2024 that we bet you didn’t know before!
To learn how TikTok is performing and how it has become such a huge platform, here are some statistics and facts. Let's take a closer look:
TikTok has over 1.5 billion monthly active users, reporting a 390% increase in its user base since 2018. It acquired over 500 million users in the first year of its launch. Now, it’s the fifth most popular social media in the world, succeeding Facebook, YouTube, WhatsApp, Instagram, and WeChat.
What sets TikTok apart is the fact that its user base grew into millions in less time than it took for bigger social networks such as Facebook. This exponential increase in its number of users every year highlights its global popularity and makes it a potent market for businesses to tap into.
TikTok has reached 4.1 billion downloads to date ever since its launch in 2016. It was the first app besides Facebook to hit the milestone of 3 billion downloads in 2021. The number keeps growing given the increasing popularity of the app.
TikTok was also the app with the most positive reviews in the U.S. in 2020. It got 88% positive reviews from users.
According to a study, the average time spent on TikTok has only grown since 2019. It has gone from 27.4 minutes per day in 2019 to 52 minutes in 2022. In 2024, the average daily time spent on the app is 58 minutes and 24 seconds on TikTok.
These statistics make TikTok rank among some of the top platforms for influencer marketing and video marketing. It is argued that TikTok emerged as the most addictive app in 2022 with 28.7 hours spent on the app per month. In comparison to TikTok, the average time spent on other social media apps such as Facebook (16 hours) and Instagram (8 hours) was quite less. It is no surprise that 1 billion videos are watched daily on the app when so much time is being spent here. This is one of the factors leading to the exponential growth of TikTok.
The largest markets for TikTok include the U.S., Indonesia, and Brazil. As of 2023, the highest number of TikTok users comes from the U.S. which is 150 million. Brazil and Indonesia closely follow with 113 million and 84.3 million users respectively.
According to these figures, these three countries stand on top in terms of number of users based on region. It provides businesses an edge for targeting people in these countries through TikTok.
On another note, 200 million users hailed from India before TikTok was banned there in the middle of 2020. It was a huge loss for marketers as TikTok rapidly became one of the most successful social networks in India.
According to statistics, TikTok is ranked as the social media network with the highest engagement rates consistently, leaving behind major platforms such as Facebook and Instagram. TikTok boasts an average engagement rate of 4.24%, whereas the average engagement rates of Instagram and TikTok stand far behind at 0.60% and 0.15%.
The content format of TikTok plays a key role in generating such a high engagement rate. The videos are shorter in length and each user’s experience on the app is highly personalized based on their interests and content preferences. Moreover,
TikTok is a place where trends and challenges go viral overnight, evoking users from all over the world to join the fun. They shower the trending videos with TikTok likes. This action-driven phenomenon encourages users to create content with trending music and share it on TikTok, building collective engagement.
An average user opens the TikTok app 19 times a day. The average length for each session is roughly 11 minutes. Kids spend roughly 2 hours daily on the app. So it is no surprise that TikTok is the platform with the highest user engagement rates.
TikTok’s ad revenue has also been exponentially increasing ever since. In 2021, the ad revenue generated was $4.6 billion which was a remarkable increase of 142% from the previous year.
The exponential growth has come as a result of several factors in the working. One of which is its growing user base and advertisers investing in the platform. In the first quarter of 2023, TikTok users were reported to spend $1 billion which is a record-breaking figure in history
No other app has surpassed a billion dollars in a single quarter before TikTok. The revenue generated from in-app purchases in the third quarter of 2023 is the highest until now. It was worth $680.74 million. TikTok’s ad revenues are set to hit $17.2 billion in 2024, a 30.7% increase from the previous year.
Advertisers see great potential in TikTok which is why they are increasing their spending on the app. TikTok generates a huge ROI for brands so it is only rational for them to expand their marketing budgets on TikTok.
The TikTok app is a highly effective platform for both creators and marketers. It makes an amazing launchpad for businesses, influencers, and entrepreneurs to grow their presence and reach new heights. In light of all these numbers and stats, it’s high time for you to start using TikTok to its full potential!
