There are very few companies in the social media business that can claim to have achieved this level of exclusivity.
As of Monday, according to a business blog post, the social media app has more than one billion monthly active users worldwide, making it one of the few with such a large audience that is not owned by Facebook (FB) or Google (GOOGLE).
As the pandemic spread, people’s use of short-form video apps such as Vine and Periscope increased. In addition, as more people seek to make a living by uploading content to social media platforms, it has both profited from and spurred the rise of the creative business.
TikTok’s popularity is surging in spite of the Trump administration’s failed attempt to shut down the Chinese-owned app in the United States earlier this year. The app was banned in India, and European regulators are looking into its data protection policies and children’s safety, despite Trump’s best efforts.
According to app store analytics firm Sensor Tower, the number of monthly active users of the app increased by 25% in August over the same month previous year.
The news cements TikTok’s position as a major competitor to established social media giants like Facebook, YouTube, and Instagram, which is owned by Facebook and recently passed the 1 billion monthly user mark. SNAP (Snapchat) said earlier this year that it had achieved 500 million monthly active users, whereas Snapchat has been operational for nearly twice as long. Twitter (TWTR) has 330 million monthly active users when this measure was last published in 2019.
During the outbreak, TikTok was able to attract a larger number of millennials and well-known creators from Instagram and other social media platforms. Last year, TikTok introduced a $1 billion creator fund to incentivize its users to post original content on the app.