TikTok reaches $10 billion in user spending

According to a new report, popular video-sharing app TikTok has hit a record $10 billion in user spending for a social media application.

This marks the first application that isn’t a video game to surpass the $10 billion spending threshold.

Now, only mobile games Candy Crush Saga, Honor of Kings, Clash of Clans and Monster Strike stand in the way of TikTok earning the top user spending spot.

“TikTok is poised to become the highest earning mobile app ever — approaching the $15 billion milestone in 2024,” said data analyst Lexi Sydow. “Consumers are spending over $11 million per day tipping their favorite content creators, propelling TikTok past the world’s most lucrative mobile game to date.”