TikTok still holds the crown of the “king of gold” in global apps, despite the threat of a ban by the previous Trump administration and the massive competition from similar products, according to August data released by Sensor Tower Store Intelligence Data. But TikTok can’t rest easy, as data show that TikTok’s market share is being split between its peers. Even if TikTok is not banned in the end, it may take time and effort to recover this lost user.
TikTok is still the most gold-sucking app in August.
In August 2020, TikTok, the world’s highest-paid non-gaming app, earned more than $88.1 million in the Apple and Google stores, 6.3 times its revenue in the same period last year. However, compared with the previous May to August revenue data, the month-on-month decline.
(TikTok Monthly Revenue Data)
About 85 percent of TikTok’s revenue in August came from China, 7.8 percent from the United States and 1.4 percent from Turkey.
YouTube was the second-highest-grossing non-gaming app in the world in August 2020, with total revenue of more than $83.9 million, up 54.8 percent year-on-year. About 55 percent of YouTube’s revenue comes from the United States, followed by 13 percent from Japan. This was closely followed by Tinder, the highest-paid social software, followed by Tencent video and comics platform Piccoma.
TikTok’s competitors are vying for more market share.
It is worth noting, however, that downloads by TikTok’s rivals have soared since July, when the U.S. government began threatening to block TikTok. In fact, these TikTok replacement software has been working to increase market share since the beginning of 2020 and has been making steady progress.
In January, TikTok accounted for about 76 per cent of installations, with the remaining four apps accounting for 24 per cent. But by August, ByteDance’s four biggest rivals had climbed to 44 per cent, while TikTok’s market share had been squeezed by 20 percentage points.
While TikTok and its rivals both reported month-on-month declines in installations in August, the number of monthly active users (MAU) from several of TikTok’s main competitors increased in the U.S. market. In August, TikTok’s rival MAU grew 12 percent from July and 49 percent from January. This may indicate that these TikTok competitors have generated interest between some U.S. users looking for alternatives to TikTok.
Among TikTok’s competitors, Triller and Likee are the biggest monthly installed apps in the U.S. market since January and the biggest competitors to grab TikTok’s market share.
Likee’ predecessor, Like Short Video, a singapore-based video social platform, was released in July 2017 as an early short video product that featured young people interacting in Southeast Asia. In early 2019, the group acquired BIGO, which led to Likee’s return to the group.
Triller was launched by Triller LLC in 2015 and is owned by U.S. President Donald Trump.
In addition to these major competitors, many well-known social platforms are also trying to get involved in short video sharing, wanting a piece of the pie.
On August 5th Instagram launched its new feature, Reels, widely called TikTok; YouTube and Snapchat are adding similar new features in the hope of attracting TikTok’s loyal user base. While Reels has not had any significant impact on Instagram installation since its launch, the data show that the average number of active Instagram users per week has increased slightly from the previous month as a result of the new feature.
TikTok has not lost his crown yet.
Despite the threat of a Trump administration ban and competition from similar products, TikTok remains the front-runner in short video sharing, with a slight increase in installations compared to August and a 51 percent increase from January.
In the first eight months of this year, consumers around the world spent $592m on TikTok, including on China’s iOS. That figure accounts for nearly a fifth of the $3 billion in revenue from entertainment apps in the Apple Store worldwide.
In the first eight months of this year, TikTok earned nearly $35 million at apple stores in the U.S., accounting for more than 4 percent of the platform’s total entertainment app revenue of $850 million. In the Google Store, TikTok is classified as a social app, where U.S. consumers spend about $6.6 million, or 4 percent of the $181 million generated by that category.
Original title: TikTok’s revenue fell month-on-month in August, but it is still the world’s most gold-sucking app.