Photo Credit: Ashley King
New data published by app analytics firm Sensor Tower says TikTok & Douyin—the Chinese version—are the first non-gaming apps to surpass $6 billion in in-app purchases in 2024. TikTok also generated a record high of $1.9 billion in gross IAP revenue in Q4 2024.
Only YouTube and the Google One subscription surpassed TikTok’s Q4 revenue total in the whole calendar year. TikTok generated more than double the revenue from any other app or game in 2024—highlighting what a power house the social media app has become. The second-place app was the game Monopoly Go, which only earned $2.6 billion in 2024. Meanwhile, TikTok’s IAP revenue in 2024 is up $4.4 billion compared to 2023.
While TikTok is having a banner year in terms of IAP generated, the app was only #2 in downloads for Q4 2024. Instagram topped the list as the TikTok ban scare forced the mostly young (13-24) cohort of TikTok users to consider a different social media network. Rounding out the top five in downloads are WhatsApp, Facebook, and Temu.
It’s worth noting that TikTok’s Chinese counterpart Douyin is included in this data—which significantly helps boost the numbers. Douyin’s content is tailored towards a Chinese audience and has tighter data regulations due to the Chinese government’s regulations. Douyin is also more heavily focused towards being an e-commerce platform—something TikTok has worked on transforming for its American audience throughout 2023 and 2024.
TikTok revenue directly benefits the creator economy, as users spend real money to buy virtual gifts for their favorite creators. That money can be cashed out by the creator—though TikTok retains 50% of the payout. With the method of in-stream shopping that TikTok is building catching on, expect those numbers to skyrocket in 2025. TikTok was already the first non-game app to reach $10 billion in total consumer spending in 2023. With a potential ban seemingly shelved for now—that number will likely continue to grow.