TikTok has hit $9 million in application purchases in the month of May, which is about 500 percent over the in-app purchases of 2018.
TikTok has been slowly and steadily ramping up its entire advertising strategy. They have been slowly focusing their attention in monetizing and this is the way, they can generate a lot of revenue. The company can still earn some money out of all the in application purchases. The in-application purchases have hit a number of $9 million. According to the report, the number is huge compared to last year because there has been a growth of almost 500 percent. In the month of May 2018, TikTok ended up generating $1.5 million in application purchases.
The company has not put a lot of emphasis on all the in-application purchases. ByteDance which is a company based in Beijing is focusing all its attention on the growth of the company. It is not putting all the best features on the paywall because this will not be able to attract users. In India, TikTok has about 200 million users in which about 120 million are active on a monthly basis.
In India, TikTok can cross Facebook as the most downloadable social media application in the first quarter of 2019. According to the latest news from The Economic Times, companies like Shopclues, Shaadi.com, Myntra, Snapdeal and Pepsi signed deals with the application for showing their ads in the application. Half of them in application purchases came from the country India.
Till date, this application TikTok has seen a total of 1.2 billion installs. The number of active users globally now is close to 500 million. Life-to-date user spending is currently at $97.4 million, with the app expected to pass the $100 million milestones this month, the new report said.