TikTok Net Worth, Revenue & Profit Statistics (2024)

With a global reach and over 1 billion users worldwide, TikTok has become a major player in the social media and short video space since its 2016 launch. And despite a number of controversies associated with it, the app is doing well financially and is posed to grow in the coming years.

We’ve previously explored TikTok’s reach and popularity among different demographics, and we touched upon its influence in the advertising space. In this piece, we’ll look deeper into TikTok’s financials – specifically its revenue statistics, focusing on advertising and IAP revenue. We’ll also explore TikTok’s value and market share – statistics that are invaluable for marketers who care about keeping their expertise up to date. Let’s dive in.

Key Tiktok Net Worth, Revenue & Profit Statistics for 2023

TikTok made $9.4 billion in total revenue in 2022. That amounts to almost double the revenue made the year before ($4.7 billion).
TikTok’s advertising segment made almost $4 billion in ad revenue in 2021.
TikTok’s market share by revenue is 26% in the US, compared to Instagram’s 14% and Facebook’s 10%.
TikTok owner ByteDance has been valued at $220 billion, and as of 2023, TikTok’s brand value is calculated to be $66 billion.
TikTok acquired two companies in 2019 – GeoGif and Jukedeck – for an undisclosed sum.

TikTok Revenue Statistics

TikTok is owned by the Chinese company ByteDance. In this section, we’ll look at ByteDance’s total revenue and TikTok’s revenue – both from ads and in-app revenue (IAP).

Total Revenue

Source: Statista

Despite various legislative issues faced by TikTok in 2022, the parent company’s revenue increased by almost $19 billion from the year before. Of course, it’s nowhere near the $27 billion increase seen in 2021.

Business of Apps reports that TikTok made $9.4 billion in total revenue in 2022. That amounts to almost double the $4.7 billion revenue made the year before.

Ad Revenue Statistics

Source: Insider Intelligence

Advertising is the biggest segment for TikTok and its parent company in terms of revenue. In 2021, it made almost $4 billion in ad revenue. This revenue figure is projected to grow to reach almost $23.6 billion in 2024.

In terms of growth, it’s no surprise that 2020 saw a huge increase in TikTok’s ad revenue – it grew by 315% that year.

The growth slowed down considerably in the subsequent years, dropping to an estimated 43% in 2023, and it is expected to drop to 30.7% in 2024. A significant reason for this may be TikTok’s legal issues, such as various restrictions in the US.

Ad Revenue by Industry

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Many industries are seeing value in TikTok today, and ad spending grew by 29% in 2022 and by 11% to the end of Q1 2023. The tech industry is posed to spend $2 billion on TikTok advertising in 2023, with cosmetics and toiletries in second placeat $1.7 billion.

Ad ARPU

Source: Statista

TikTok’s average revenue per user (ARPU) is its key performance metric. It’s grown substantially since 2020, when it was $11.66, reaching $65.8 in 2022. In 2024, the ARPU is projected to reach almost $113.

TikTok IAP Revenue Statistics

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In terms of TikTok’s in-app revenue (IAP), which includes purchases made through the mobile app, it is the second-most successful appon the Android platform in the US in terms of revenue after CandyCrush, having earned $14.11 million in September 2022.

The US accounts for 34% of TikTok Android in-app revenue, with Germany and France in second and third place.

2022 was TikTok’s best year in terms of IAP revenue, although Q4 2021 was also excellent. In that quarter, IAP revenue reached over $0.5 billion, which was roughly equal to the IAP for each quarter in 2022. Q4 2022 was TikTok’s best quarter to date and saw IAP revenue reach $528 million.

However, in Q1 2023, IAP revenue dropped below $500 million for the first time since Q3 2021.

TikTok IAP Revenue Europe

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TikTok’s popularity in European countries like Spain and Romania correlates with high IAP revenues. For example, in Q1 2023, the app’s IAP revenue in Romania reached almost $3.8 million– the result of steady growth since Q1 2022, when TikTok made $3.19 million.

With Spain, the growth pattern is somewhat different. Q1 2022 was TikTok’s best Spanish quarter when the app made over $4.76 million in IAP. However, the figures have been in decline ever since.

As for TikTok’s Polish IAP, Q1 2022 was also its best quarter, with February and March IAP revenue amounting to $1.4 million. The figures dropped to $0.4 million in July 2022 but have more or less held to an average of $0.5 million monthly since.

TikTok IAP Revenue LATAM

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In terms of TikTok IAP revenue in the LATAM region, Brazil has seen the highest numbers. In H2 2021, it made almost $6 million – over five times as much as other individual LATAM countries like Peru and Mexico. However, in H1 2022, it dropped to $3.71 million.

TikTok IAP Revenue APAC

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In APAC, Japan has been performing well in terms of TikTok IAP revenue. In 2022, this was an average of $7.78 million per month, peaking at $11.9 million in December.

For Malaysia, the average TikTok IAP revenue in 2022 was $2.6 million per month. The best month was August, when earnings surpassed $3 million.

As for its neighbor Singapore, it saw average monthly TikTok IAP revenue of $1.09 millionin this period, despite its small size. The best month for TikTok in Singapore in 2022 was Februarywhen it reached $1.33 million.

TikTok Creator Revenue Statistics

TikTok content creators get paid through the TikTok creator fund established in 2021. We’ll explore the top TikTok earners in our next article, but for now, let’s take a look at some overall TikTok creator revenue statistics.

How Can a TikToker Earn?

In addition to the creator fund, which pays 2-4 cents for every 1,000 views, TikTok content creators can get paid through TikTok Series.

TikTok Series was launched in June 2023, and it allows creators to get paid for posting Collections of premium content behind a paywall. Creators can set their own prices up to $189.99. Eligible creators have to have over 10,000 followers.

TikTok Market Statistics

In the previous section, we looked at TikTok’s financial and revenue statistics and revenue breakdown by segment and region. TikTok had a good year overall in 2022, but some regions performed better than others.

In the next section, we’ll look at the app’s market share, brand value, and valuation.

Source: Statista

TikTok has a significant share of the video social media market – especially in terms of revenue. For example, its market share by revenue is 26% in the US, compared to Instagram’s 14% and Facebook’s 10%. In the UK, TikTok’s market share by revenue is 22%, and in Germany, 25%.

In the US, TikTok’s user base has passed 115 million users. That means over 37% of the US population using the internet is on TikTok. As for the UK, 23.3 million people are on TikTok as of 2022, which means TikTok reaches 34.7% of UK residents.

In terms of TikTok’s share of digital ad spending, it still lags behind more established players. In 2021, the Chinese platform’s digital ad spending share was only 1%. However, this figure is expected to grow to reach 4% in 2024.

TikTok’s Brand Value

Source: Statista

TikTok is in the tenth spot on the list of the top 10 most valuable brands, with a brand value of $65.67 billion – just behind Tesla’s $66.21 billion. It’s also in the ninth spot in the list of the top 10 media and entertainment brands of 2023, followed by Tencent Video.

Valuation & Funding

Source: Statista

TikTok has been valued at as much as$220 billion in 2022, and as of 2023, its brand value is set at $66 billion. The latter figure represents a growth of almost $48 billion in just two years from TikTok’s valuation of $18.75 billion in 2021.

TikTok has never been involved in funding rounds, but its owner, ByteDance, raised over $9.5 billion over the course of 12 rounds. The latest round was completed in March 2023 through the secondary market, when ByteDance raised $100 million.

Acquisitions

Despite not being involved in raising capital, TikTok has made two acquisitions, both for undisclosed amounts. The organizations acquired were:

GeoGif, acquired in 2019 – an American company involved in animation
Jukedeck, also acquired in 2019 – a British AI composer

Trends That May Impact TikTok’s Value & Position

Source: Statista

TikTok is becoming a social media powerhouse, capturing the attention and creativity of over a billion people worldwide. Since its launch, TikTok has climbed the ranks to become one of the most popular apps globally. As we look ahead, several trends are poised to impact TikTok’s value, market position, and revenue.

Evolving Demographics

TikTok isn’t just about dancing teenagers anymore. As it continues to expand its user base, we are witnessing a shift in demographics. More and more older adults and even seniors are joining the platform.

This diversification of user demographics presents a significant opportunity for TikTok to tap into new markets, potentially leading to increased revenue.

Enhanced Ad Capabilities

TikTok has been busy enhancing its advertising capabilities to provide brands with more options. From in-feed ads to branded challenges and hashtag challenges, the platform is creating a seamless UX while enabling brands to creatively connect with their audiences.

As advertisers recognize the potential of TikTok’s huge user base, we can expect a surge in ad spending on the platform, which will boost its revenue.

E-commerce Integration

Source: TikTok

The marriage of social media and e-commerce is reshaping the way businesses interact with consumers. TikTok has been exploring e-com integration, allowing users to make purchases directly within the app.

This trend has the potential to significantly impact TikTok’s revenue by providing a seamless shopping experience and encouraging brands to establish a stronger presence on the platform.

As users become accustomed to shopping while scrolling through their TikTok feed, the platform’s value as a sales channel is likely to increase.

Regulatory Challenges

Source: Statista

Despite TikTok’s popularity, it’s seen its share of challenges, particularly concerning privacy and data security. Various governments and regulatory bodies have scrutinized TikTok’s privacy practices and content moderation.

These regulatory challenges may adversely impact TikTok’s market position and revenue as the company navigates a complex landscape of compliance and potential adjustments to its operations.

Closing Thoughts

Although TikTok and ByteDance don’t publicly share precise revenue and profit figures, the statistics tell us that 2022 was an excellent year for them, while 2023 is proving more challenging, with issues around the world relating to regulation.

However, if TikTok is able to overcome these challenges, there’s no reason why it can’t carry on its growth trajectory, becoming an even more powerful marketing vehicle for a wide range of brands and audiences.

References

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