Report: TikTok’s overseas version generated $177 million in revenue last year, with China accounting for 69%

BEIJING, Jan. 17 (Xinhua) — ByteDance’s overseas version of TikTok generated $176.9 million in global revenue last year, accounting for 71% of its historical total revenue of $247.6 million, according to the latest data released Thursday by app-tracking company SensorTower. That’s more than five times the revenue in 2018. In the fourth quarter of 2019 alone, TikTok’s revenue reached $88.5 million, double that of the third quarter and six times as much as in the fourth quarter of 2018, with most of its revenue coming from advertising and in-app purchases, SensorTower said.

China is the biggest contributor to TikTok’s revenue, with iOS users spending $122.9 million on TikTok, accounting for 69 percent of TikTok’s total revenue last year. U.S. consumers spent $36 million on TikTok last year, or 20 percent. The UK came in third, with users spending $4.2m on TikTok last year, or just 2 per cent.

Report: TikTok's overseas version generated $177 million in revenue last year, with China accounting for 69%

TikTok’s monthly revenue and app rankings from 2018

In 2019, TikTok’s global downloads, driven by new users, exceeded 738 million, up 13% from 655 million in 2018 and accounted for 44% of its 1.65 billion gross downloads. The fourth quarter of 2019 was the best quarter in TikTok’s history, with 219 million downloads up 6% from the same period in 2018. Last year, TikTok was the second-highest downloaded app worldwide for the Apple App Store and Google Play App Store, after the chat app WhatsApp 849 million times.

The Financial Times reported in October that Byte Dance, TikTok’s parent company, was considering an IPO in Hong Kong in the first quarter of this year, but ByteDance denied any such plans.

A TikTok spokesman said the company was not listed and would not release revenue figures.