It’s not been the best year for most video editing apps as TikTok’s popular video editor CapCut continues to dominate the market.
The news is getting old now because cinching the top spot in this industry is something that comes so naturally to TikTok. Despite a 30% decline in demand and a 140% rise in revenue seen throughout all popular platforms in terms of video edits, CapCut still gained a huge amount of market share. Clearly, it must be doing something right.
At the start, it was for free as the goal of its makers was to make it a popular option. Then it came down to switching over plans and thinking about monetization. This clearly meant arch-rivals needed to step up to the plate if they wished to progress.
Unfortunately, nobody is yet to come close in this regard. A major shift in market share saw CapCut getting the majority. Whether it’s VSCO, Picsart, Splice, Lightroom, or even Facetune - the revenue is nowhere near where CapCut stands.
Stats from App Intelligence showed how January of 2023 proved that the top 5 platforms demanded 96% of the total revenue in this 6-app group. It left CapCut with just 4%. 22 months later, things portray a different picture altogether.
Looking at October of this year, the app’s revenue share grew to 42% and that left others with a little close to 58% to fight with. That’s nearly 10% of the share inside a market that features a monthly revenue increase of $38M across six different platforms.
It will not take CaptCut too much time to go above and beyond the 50% mark. Its journey is also a struggle-free, from what we can see. The only thing that can change is if other rival apps do something drastic to narrow the gap.
Read next: Elon Musk's X Witnesses Its Biggest Month So Far As Mobile Revenue Soars To Record High Figures
The news is getting old now because cinching the top spot in this industry is something that comes so naturally to TikTok. Despite a 30% decline in demand and a 140% rise in revenue seen throughout all popular platforms in terms of video edits, CapCut still gained a huge amount of market share. Clearly, it must be doing something right.
At the start, it was for free as the goal of its makers was to make it a popular option. Then it came down to switching over plans and thinking about monetization. This clearly meant arch-rivals needed to step up to the plate if they wished to progress.
Unfortunately, nobody is yet to come close in this regard. A major shift in market share saw CapCut getting the majority. Whether it’s VSCO, Picsart, Splice, Lightroom, or even Facetune - the revenue is nowhere near where CapCut stands.
Stats from App Intelligence showed how January of 2023 proved that the top 5 platforms demanded 96% of the total revenue in this 6-app group. It left CapCut with just 4%. 22 months later, things portray a different picture altogether.
Looking at October of this year, the app’s revenue share grew to 42% and that left others with a little close to 58% to fight with. That’s nearly 10% of the share inside a market that features a monthly revenue increase of $38M across six different platforms.
It will not take CaptCut too much time to go above and beyond the 50% mark. Its journey is also a struggle-free, from what we can see. The only thing that can change is if other rival apps do something drastic to narrow the gap.
Read next: Elon Musk's X Witnesses Its Biggest Month So Far As Mobile Revenue Soars To Record High Figures
