Data from OnlyAccounts.io, Statista and AppMagic indicate that, after one of the best quarters in the history of TikTok, the short video app crossed 4.4 billion lifetime downloads.
TikTok has over the past six years, climbed all the way to the top, growing global downloads to a whopping 1.92 billion during the Covid-19 outbreak.
TikTok took the world by storm only a few months after its release in 2017. Although the app was already popular and backed by a large user acquisition campaign, its downloads skyrocketed amid the COVID-19 pandemic, when more people than ever used social media platforms to connect with others.
In the just the first half of 2023, TikTok recorded an additional more than have a billion downloads.
The Statista and AppMagic data also show TikTok was downloaded 653.7 million times in 2018, with more than 40% of all downloads that year coming from India, one of the fastest-growing TikTok markets.
However, the Statista and AppMagic data show that 2023 might set a new record. In the first six months of the year, TikTok was downloaded nearly half a billion times worldwide, or 32% more than in the same period a year ago.
In Q2 2023 alone, the social video app was downloaded 260.8 million times, the third-highest number in its history.
Surging User Base Drives Revenue Growth
Thanks to the surging number of users, marketers are willing to dig deep into their pockets to promote on TikTok. TikTok ads can open many doors to companies, especially those wanting to reach a young audience. Plus, videos posted on the app can go viral and reach millions of users practically overnight, something no other social media app can offer.
Between 2020 and 2022, TikTok`s owner ByteDance grossed $17.6 billion from TikTok ads, and this figure is expected to grow by another $18 billion in 2023. Thanks to an impressive 155% annual growth, TikTok ranked as the company with the fastest-growing digital ad revenue in the world and the only social media platform on the list of tech and retail giants, including Apple and Amazon.
Statista expects TikTok`s ad revenue to surge by nearly 200% in the next four years and hit almost $54 billion by 2027.
Also Read: TikTok slapped with €345 million EU fine for privacy breaches
