Data: TikTok surpasses $1bn consumer spend in Q1
June 15, 2023
TikTok has become the first app to ever surpass $1 billion in consumer spend in a single quarter globally, according to insights by data.ai. The app analytics data provider has taken a deep dive into the features driving consumer spend on mobile and the apps with the most successful monetisation strategies, revealing the top apps by consumer spend:
- TikTok surpassed $1 billion (€0.92bn) in consumer spend worldwide in Q1 2023.
- Honor of Kings, a game and the second-best app, earned $570 million in global consumer spend across iOS and Google Play.
- YouTube rounded out the top three with more than $530 million.
What sets TikTok apart?
- While nearly 70 per cent of in-app purchase spending in non-game apps comes from subscriptions, TikTok bucks this trend by relying on one-time purchases (typically more popular among gaming) to gift to their favourite streamers.
- TikTok is the only non-gaming title among the top 10 by one-time purchase revenue in the US, leading hit games like Candy Crush Saga, Roblox and Pokémon Go.
The leading features for gaming spend:
- Mid-tier in-app purchases ($10 – $99) only account for 42 per cent of spend in mobile games because consumers are more likely to purchase many low-priced items or splurge on high-priced in-app purchases at $100 or above.
- Nearly half (45 per cent) of all in-app purchase revenue from games in the US are priced under $10. However, a substantial portion still comes from the highest-priced in-app purchases, at more than $100.
The in-app purchases driving consumer spend:
- In Q1 2023, Roses (similar to Tinder’s Super Likes) accounted for more than a third of Hinge’s revenue in the US on iOS.
- More than 70 per cent of non-gaming in-app purchase revenue in the US was from in-app purchases priced between $10 and $100 in Q1 2023, an increase of 6 percentage points from Q1 2022.