While the potential ban of TikTok in the USA looms, another app owned by TikTok is making significant waves in the video editing industry. CapCut, TikTok's video editing app, is gradually gaining traction.
CapCut, developed by ByteDance, the parent company of TikTok, is a standalone video editing application available on both mobile and desktop platforms. Initially free, it transitioned to a subscription model at the end of 2020. Surpassing longstanding competitors, CapCut claimed the title of the highest-earning video editing app in the previous year.
The momentum continues to surge, with the first quarter of 2024 marking CapCut's most lucrative period yet.
Estimates by AppFigures reveal that CapCut amassed $59 million in net revenue during Q1 of 2024 worldwide, including earnings from the China-exclusive version. This reflects a remarkable 44% increase from Q4 of 2023 and an astonishing 436% surge compared to Q1 of 2023.
CapCut owes much of its success to the meteoric rise of TikTok, although interestingly, its growth isn't solely attributed to aggressive App Store ad campaigns. The app's revenue is primarily driven by China, with the US following closely behind, while other regions contribute less significantly.
Speculation abounds regarding the potential impact of a TikTok ban on CapCut's revenue streams. Nonetheless, its formidable performance suggests that competing with CapCut's revenue, particularly in the USA, would pose a significant challenge for any rival.
Read next: TikTok Might Soon Gives Users The Chance To Bypass Apple’s App Store In-App Purchase System
CapCut, developed by ByteDance, the parent company of TikTok, is a standalone video editing application available on both mobile and desktop platforms. Initially free, it transitioned to a subscription model at the end of 2020. Surpassing longstanding competitors, CapCut claimed the title of the highest-earning video editing app in the previous year.
The momentum continues to surge, with the first quarter of 2024 marking CapCut's most lucrative period yet.
Estimates by AppFigures reveal that CapCut amassed $59 million in net revenue during Q1 of 2024 worldwide, including earnings from the China-exclusive version. This reflects a remarkable 44% increase from Q4 of 2023 and an astonishing 436% surge compared to Q1 of 2023.
CapCut owes much of its success to the meteoric rise of TikTok, although interestingly, its growth isn't solely attributed to aggressive App Store ad campaigns. The app's revenue is primarily driven by China, with the US following closely behind, while other regions contribute less significantly.
Speculation abounds regarding the potential impact of a TikTok ban on CapCut's revenue streams. Nonetheless, its formidable performance suggests that competing with CapCut's revenue, particularly in the USA, would pose a significant challenge for any rival.
Read next: TikTok Might Soon Gives Users The Chance To Bypass Apple’s App Store In-App Purchase System
