If you haven’t heard about it already, TikTok is a social media app that allows users to create short lip-sync, talent, and comedy videos. It was launched in 2017, however it became more popular and the most downloaded app in the US in 2018.
On the 9th of November 2017 ByteDance, TikTok’s parent company, spent $1 billion to buy Musical.ly. Musical.ly used to be a social media app that allowed users to make comedy and short lip-sync videos. TikTok and Musical.ly merged on the 2nd of August 2018, this allowed the users of Musical.ly to keep their accounts and data that they have created, while making the video community much larger.
TikTok has been downloaded 80 million times in the US, and 800 million times worldwide excluding android users in China. Many celebrities like Jimmy Fallon and Tony Hawk have joined the app as well. On the 23rd of January 2018, the app was ranked #1 among free mobile app downloads on app stores in Thailand and other countries.
What Can You Do On It?
There are many different features for users to enjoy. Various filters, speeds and music genres are available to create different types of videos. They have a duet feature that was actually a trademark of Musical.ly and it allows users to film a video alongside another video. The “for you” page on TikTok is your feed or timeline of recommended videos based off what you have previously watched. For privacy purposes, your account can be private where your friends are the only ones who see your videos, and public, where anyone can see your videos.
Userbase, Downloads and Growth
It was reported that TikTok reached 500 million monthly active users within their first year. That is amazing, especially for a new app just starting up. For comparison, it took instagram 6 years (from when it was first launched) to reach 500 million monthly active users. That is crazy, think of how popular TikTok must be in order to do that.
In early 2019, TikTok became the third most downloaded app globally
TikTok is mostly used by Gen-Z (ages 7-22) in the US, but millennials around the world have joined in on the fun. Even though it is very popular in the United States, where it is the most popular and where the app has the most users is China. TikTok over there is called Douyin.
TikTok’s user base is largely based in India at 43% of all users 66% of users are younger than 30-years-old Almost 56% of TikTok users are male.
This app is very addictive, as soon as you click the app on your phone you already see feed that would interest based on what you previously watched. The videos are 15 seconds to a minute which makes it ideal for people who are bored and are in need of quick entertainment. Do not be mislead though, even though the videos are short, the average user spends 52 minutes a day on TikTok.
90% of users visit the app more than once a day. Users will open the app 8 times a day on average. TikTok claims that the average session is almost 5 minutes, that is longer than Snapchat or Instagram.
Viral Trends and Influences on TikTok
TikTok has given the opportunity for comedians, influencers and some brands to be seen and heard. However, since TikTok is still new there needs to be a little more time to see how successful these influencers really become. TikTok has been a big contribution to the success/popularity of certain songs like Old Town Road, Roxanne, Yellow hearts, etc.
The most followed user is an influencer named Loren Gray, she is 17 years old and she has 34.4 million followers.
Rapper Lil Nas X gives the credit to TikTok as to why his song “Old Town Road” was a success
Business, Revenue, and Competition
TikTok’s revenue more than tripled within the timeframe of 2017 and 2018. TikTok made $3.5 million on in-app purchases from users in 2018. In-app purchases increased by 275% year-over-year By February 2019, TikTok reached 1 billion downloads in apps stores, this beat Instagram and Facebook.
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