INSIGHTS

According to newly released third-party data, TikTok has reason to celebrate. The famous short-video application saw its in-app purchase revenue rise 310% on a year-over-year basis, according to Apptopia, a startup that tracks mobile app revenue and usage. Revenue gains are impressive in more than percentage terms. The popular social application’s in-app revenue is now at a material scale — topping $50 million. Another agency, SensorTower’s Randy Nelson, calculates TikTok’s year-over-year growth closer to 521%. Since Bytedance, TikToks owner, isn’t a public company are estimations the closest we come.