Analytics firm App Annie has found that TikTok has grown by a massive 75% growth from last year, as reported by Forbes. For the first time in a while, we can talk about TikTok in a positive light. Given all the issues it has had this demonstrates the strength of the social media platform.
All in all, this makes for a pretty strong week for the social media platform. During August things looked pretty bleak for Tiktok after Trump imposed a ban on the company in the U.S. However, the company has recently been acquired by Oracle which allows them to continue operating in America.
This massive growth seen by TikTok just underlies the ever-growing popularity of the app. Arguably the turmoil the company has found itself in during the last few weeks may have worked to its advantage now the situation seems to have sorted itself out.
TikTok has stellar 2020 according to growth figures
The report published by the analytics firm found that TikTok saw a 75% growth from this time last year. It also found that the company now has more than 33x the number of users of any of its competitors.
This translates into around one in six Americans that now use TikTok. Every week this equates to over 50 million users on the app.
Other social media apps such as Instagram and Snapchat have also experienced growth during the pandemic. So this is not exclusive to TikTok but the scale of this growth is pretty much unprecedented.
Naturally, all of these users translates into a strong revenue stream for TikTok. It is now the highest grossing app on the iOS App Store globally in the second quarter of 2020.
This may be partly due to the increased use of mobile apps during the lockdown. However, TikTok downloads continue to soar even now. It is consistently in the top ten of all apps for downloads.
TikTok outshines competitors in growth figures
TikTok also has massively outdone all of its competitors on almost all metrics. Other similar apps such as Likee have experienced growth in 2020. However, the numbers are almost incomparable.
Likee sees around 1.6 million average weekly users which pale in comparison to the previously mentioned figure of over 50 million for TikTok. Other competitors, Dubsmash and Zynn sit at around 600,000 per week whilst, Byte has fallen from 900,000 to around 200,000 weekly users.
However, the Trump administration likely has not finished with TikTok. It is still reviewing the Oracle deal to see whether it meets their approval.
Whether TikTok can sustain this growth is another issue and whether the government has any more surprises for the company may be another issue. However, for now, the only way is up for TikTok.