In the US, TikTok received 26% of the app revenue that was collected in 2023 so far. Instagram and Facebook are both far behind, receiving 14% and 10% respectively. With all of that having been said and now out of the way, it is important to note that TikTok is not just finding success in the United States of America. It is also starting to dominate several European markets such as Germany and the UK.
In Germany, around 25% of app revenue went to TikTok in 2023 up until this point. Instagram does a lot better in Germany than in the US, receiving an estimated 18% of app revenue, while Facebook only manages a meager 8% share.
As for the UK, TikTok’s dominance continues unabated in the region. The short form video app received approximately 22% of app revenue in the British isles, with 10% going to Instagram and just 7% going to Facebook.
However, TikTok is facing some serious existential threats in the US that could make its future growth slower than might have been the case otherwise. Government entities in the US are starting to see TikTok as a national threat because of the fact that this is the sort of thing that could potentially end up sending sensitive data straight to the Chinese government.
TikTok will need to overcome these obstacles if it wants to keep accessing the undeniably profitable American markets. If it fails to get past these hurdles, its dominance in European markets would be in peril as well. 2023 will be an important year for TikTok, since it will determine whether or not the app will survive to see another day with the same level of profitability.
H/T: Statista
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by Zia Muhammad via Digital Information World
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