The platform's primary affluent audience consists of individuals between the ages of 24 and 55. These users have high spending power, making them attractive to businesses. What's the benefit?
1. User Base: In 2023, TikTok reached 1.5 billion monthly active users and is expected to grow to 1.8 billion by the end of 2024.
2. Time Spent: The average user spends approximately
95 minutes per day on the platform.
3. Downloads: The app has been downloaded over 4.1 billion times worldwide, including the Chinese version, Douyin.
4. Advertising Reach: TikTok has the potential to reach
1.218 billion users aged 18+ with its advertising. This represents approximately 23% of the world's internet users.
5. Engagement: 53% of TikTok users prefer entertainment content and 41% trust brands more after seeing ads on the platform.
6. Revenue: In 2023, TikTok generated approximately
$16.1 billion in revenue, a 67% increase compared to the previous year.