TikTok reached 1 billion monthly active users
TikTok said Monday it has passed 1 billion monthly users. It’s a remarkable number for a platform launched in August 2018 that has been scrutinized by governments, including the US, that are worried about the data collection practices of its parent company, Beijing-based ByteDance.
TikTok popularity soared during the pandemic, becoming the most-downloaded app in the world in the first quarter of 2020, with some 315 million downloads in that quarter alone according to app analytics company SensorTower.
ByteDance reportedly saw its 2020 revenue more than double from the year prior, to $34.3 billion. From its launch to date, SensorTower says TikTok installs have reached 3.2 billion, which includes information from Douyin, the Chinese version of the app. TikTok monthly average users in August were up 25 percent from August 2020. In June of this year, ByteDance was valued at $425 billion.
And other apps, seeking to duplicate TikTok enormous success, created short-form video products of their own. Facebook-owned Instagram launched Reels last August; Snapchat introduced its in-app TikTok clone Spotlight in November, and even video behemoth YouTube got into the short-form game, debuting its YouTube Shorts in the US earlier this year. But TikTok continued growing; a report earlier this month found TikTok users spend more time watching its content than YouTube users.