TikTok’s rise to the very top of the social media industry is something that has taken pretty much the entire world by surprise due to how quickly it ended up happening. According to App Annie, the platform might just reach 1.5 billion active users by 2022, and if this happens it would be quite meteoric due to the reason that it took WhatsApp a much longer time to reach this milestone, and WhatsApp is arguably one of the most widely used apps in the world at this point.
With all of that having been said and now out of the way, it is important to note that TikTok is managing to do this despite some setbacks. Bans in India and Pakistan have meant that TikTok was no longer available to about 1.6 billion potential users, and this is especially notable because this was a region where TikTok managed to start its rise and it was quite widely used in the subcontinent prior to the bans having been put in place.
As TikTok starts to expand into ecommerce and the like, all eyes are on the platform because its high user numbers could result in it becoming a bit of a game changer in this sphere once it manages to make its entry. What’s more is that App Annie is currently predicting quite a major rise in TikTok’s earnings as well, which is important because of the fact that this is the sort of thing that could potentially end up securing TikTok’s growth well into the future in a really big way.
The app might reach around $3 billion in consumer spending by 2022 across all app stores and platforms, and a major contributor to that would be live streamers that promote purchases that users can end up making from within the app.
TikTok is not the only social media app that is predicted to do really well in the coming years. According to App Annie’s report, social media apps in general are predicted to receive around $9 billion in consumer spending in 2022, which indicates massive year on year growth with all things having been considered and taken into account. Apps like Pinterest and Temple Run 2 will have crossed a billion downloads by that year as well, and there is a strong likelihood that their earnings are going to go through the roof as well thanks to increased consumer spending across the board.
This will be an important milestone for Temple Run 2 in particular because it’s somewhat rare for a game to reach this many downloads. Only Candy Crush Saga and Subway Surfers have managed to cross a billion downloads so far, so Temple Run 2 will be included in a very exclusive club if it manages to reach this milestone by next year.
The metaverse is going to play an important role in the coming years as well. One reason for this is that Facebook Inc, now renamed Meta, will be leaning heavily into this, and metaverse based games will be crossing $3 billion in revenue as well. Games like Roblox have been incorporating a metaverse for quite some time now, and Meta’s focus on this sector is likely going to increase its prominence which will probably lead to a rather massive increase in revenue as well. These are exciting times for app developers, and these statistics seem to indicate that the growth that the industry has been seeing as of late is not going to go away anytime soon.
Read next: Here are the Biggest Upcoming Influencer Trends for 2022
With all of that having been said and now out of the way, it is important to note that TikTok is managing to do this despite some setbacks. Bans in India and Pakistan have meant that TikTok was no longer available to about 1.6 billion potential users, and this is especially notable because this was a region where TikTok managed to start its rise and it was quite widely used in the subcontinent prior to the bans having been put in place.
As TikTok starts to expand into ecommerce and the like, all eyes are on the platform because its high user numbers could result in it becoming a bit of a game changer in this sphere once it manages to make its entry. What’s more is that App Annie is currently predicting quite a major rise in TikTok’s earnings as well, which is important because of the fact that this is the sort of thing that could potentially end up securing TikTok’s growth well into the future in a really big way.
The app might reach around $3 billion in consumer spending by 2022 across all app stores and platforms, and a major contributor to that would be live streamers that promote purchases that users can end up making from within the app.
TikTok is not the only social media app that is predicted to do really well in the coming years. According to App Annie’s report, social media apps in general are predicted to receive around $9 billion in consumer spending in 2022, which indicates massive year on year growth with all things having been considered and taken into account. Apps like Pinterest and Temple Run 2 will have crossed a billion downloads by that year as well, and there is a strong likelihood that their earnings are going to go through the roof as well thanks to increased consumer spending across the board.
This will be an important milestone for Temple Run 2 in particular because it’s somewhat rare for a game to reach this many downloads. Only Candy Crush Saga and Subway Surfers have managed to cross a billion downloads so far, so Temple Run 2 will be included in a very exclusive club if it manages to reach this milestone by next year.
The metaverse is going to play an important role in the coming years as well. One reason for this is that Facebook Inc, now renamed Meta, will be leaning heavily into this, and metaverse based games will be crossing $3 billion in revenue as well. Games like Roblox have been incorporating a metaverse for quite some time now, and Meta’s focus on this sector is likely going to increase its prominence which will probably lead to a rather massive increase in revenue as well. These are exciting times for app developers, and these statistics seem to indicate that the growth that the industry has been seeing as of late is not going to go away anytime soon.
Read next: Here are the Biggest Upcoming Influencer Trends for 2022