TikTok’s revenue surged to $23 billion in 2024, according to the TikTok App Report, making it the fourth largest social app by revenue behind Facebook, Instagram and YouTube.
The majority of this revenue came from its advertising platform, which generated $17 billion in 2024. In-app purchases and commerce are the other two revenue pillars for TikTok, each generating over $2 billion for the app.
TikTok revenue by type 2018 to 2024 ($mm)
TikTok’s commerce division had another excellent year, selling over $30 billion in gross merchandize volume. This growth has come primarily from South-east Asia, where it has Indonesia’s Tokopedia to continue operating its ecommerce platform in the country.
Even with the threat of a ban in the US and other countries, TikTok continued to grow in 2024, adding 98 million users. It did not lose users in the US either, indicating that users do not see the warnings of Chinese government interloping as credible.
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Get startedThe situation in the US has not effected ByteDance’s valuation either, with the company’s value on the private market reaching $400 billion in 2024. It should be noted that the majority of ByteDance’s revenue and profit comes from the Chinese market.
Even with TikTok’s fate in the US market still in limbo, the app has carried on growing in all regions. We anticipate that revenues will surpass $30 billion in 2025, pushed ahead by its advertising platform and the continued growth of its ecommerce vehicle.
Want to learn more about TikTok? Check out our full report here.
