TikTok Boom! How the Exploding Social Media App Is Going Hollywood

Author

Michael Beach
May 21, 2020

Key details for TikTok:
1) Launched in 2016
2) U.S. launch in Summer 2018
3) Part of Chinese company ByteDance
4) $75B estimated valuation
5) ≈ 2B app downloads
6) 700M daily users
7) 69% of users are 14-26

Wow: TikTok was downloaded 199M times in March, which is the highest monthly total for any app ever!

TikTok global app downloads by quarter according to SensorTower:
1) 2017-Q1 – 22.4M
2) 2017-Q2 – 26.6M
3) 2017-Q3 – 33.6M
4) 2017-Q4 – 46.8M
5) 2018-Q1 – 110.3M
6) 2018-Q2 – 156.0M
7) 2018-Q3 – 183.8M
8) 2018-Q4 – 205.7M
9) 2019-Q1 – 187.3M
10) 2019-Q2 – 155.9M
11) 2019-Q3 – 175.9M
12) 2019-Q4 – 199.4M
13) 2020-Q1 – 315.0M

TikTok app downloads (share of total) by country:
1) India – 611M (30%)
2) China – 197M (10%)
3) United States – 165M (8%)
4) Other – 843M (52%)

TikTok users in the U.S. according to eMarketer:
1) 2018 – 18.8M
2) 2019 – 37.2M (↑ 97%)
3) 2020P – 45.4M (↑ 22%)
4) 2021P – 52.3M (↑ 15%)
5) 2022P – 55.8M (↑ 7%)
6) 2023P – 58.4M (↑ 5%)
7) 2024P – 60.3M (↑ 3%)

Big hire: TikTok tapped former Disney exec Kevin Mayer to be CEO.  At Disney, he oversaw streaming efforts, including the launch of Disney+.

Senator Hawley marked the occasion by offering a free trip to DC…

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