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TikTok surpasses 10 Billion dollars in user expenditure

Published on 11.12.2023 by Tracey Chizoba Fletcher

TikTok's platform for bite-sized videos has soared to an unprecedented milestone. In 2021, the app proudly boasted a staggering 1 billion monthly users. Now, it stands as the inaugural non-gaming mobile application to amass a whopping $10 billion in consumer spending, combining both the Apple App Store and Google Play achievements. This remarkable feat, revealed by app analytics expert data.ai, places TikTok in a league previously only occupied by gaming giants. The list of high earners in this category includes King/Activision Blizzard's Candy Crush Saga, which leads with over $12 billion, along with Tencent's Honor of Kings, XFLAG/Mixi's Monster Strike, and Supercell's Clash of Clans.


Billions of dollars in user-spending in 2022

Entering 2023, TikTok had already accrued over $6.2 billion in user spending. Throughout the year, it impressively tacked on an additional $3.8 billion, marking a 61% increase from the start of the year. This growth rate is also a 15% climb from the $3.3 billion recorded in 2022, according to data.ai. It's important to note that these figures reflect spending on iOS and Google Play only, excluding third-party Android stores in China, which suggests TikTok's total consumer spending might be even greater.


Financial growth was not a shock

This financial influx is largely attributed to the app's "coins" system – a virtual currency that fans use to purchase gifts for their favorite content creators. These gifts, which can be converted into real money, allow creators to monetize their content, with TikTok retaining a 50% cut. The most popular purchase in the app is a bundle of 1,321 coins, priced at $19.99, which accounts for a significant portion of its revenue. Besides in-app purchases, TikTok also profits from advertising and its e-commerce branch, TikTok Shop, though these were not included.


Key contributors for TikTok’s financial influx

Analyzing the geographical distribution of this spending, U.S. consumers and iOS users in China as key contributors, each driving nearly 30% of the revenue independently, and a combined 60% together. Other notable markets include Saudi Arabia, Germany, the U.K., and Japan, collectively contributing 13% to the in-app purchase revenue. While TikTok is the first non-game app to cross the $10 billion threshold, other non-gaming apps also generate substantial revenues. However, TikTok's closest competitors, Tinder and YouTube, still trail by a significant $2 to $3 billion margin.