Since its launch in 2016, the platform has seen an exponential increase in its user base, revenue, and popularity. As we look ahead to 2023, the latest statistics indicate that TikTok is poised for even more growth and expansion.
In this article, we’ll take a closer look at the surprising growth and demographics of TikTok, including its user base, revenue, and the live streaming feature that has become a hit with users.
TikTok has experienced remarkable growth since its inception, and the latest statistics from Social Insider suggest that it will continue to do so.
As of 2023 statistics, TikTok has over 1.53 billion users, with 1.05 billion of them being active on a monthly basis. Additionally, TikTok has been downloaded by over 3 billion people, and it is used by 30.25% of the world’s internet users. By 2023, TikTok is expected to have up to 840 million users worldwide.
As TikTok’s user base grows, so does its revenue.
TikTok experienced a significant increase in revenue, generating an estimated $4.6 billion in 2021, which is 142% higher than the previous year.
In Q4 2021, the platform reached 1.2 billion monthly active users, and analysts predict it will hit 1.8 billion by the end of 2022.
Its global reach and dominance are underscored by the fact that in China alone, over 600 million users access TikTok daily.
TikTok’s user demographics are equally interesting.
According to Omnicore Agency, roughly 5% of TikTok’s global audience are women between 18 and 24 years old, and around 17% of the platform’s audience are men between 18 and 24 years old. In total, 54% of TikTok users are female, while 46% are male.
The smallest group on TikTok is 55+ year-olds, with only 1.7% of the user base belonging to this age bracket.
Live streaming is also a popular feature on TikTok. A study found that 1 in 5 live streaming users watch TikTok LIVE, and of that group, 62% watch it every day.
Furthermore, TikTok users are 50% more interested in branded LIVE content than non-TikTok users. These findings suggest that TikTok’s live streaming feature has great potential for brands and content creators.
Should I Start Streaming on TikTok in 2023?
TikTok’s impressive user base and revenue growth make it an attractive platform for streamers looking to expand their reach.
With over 1.05 billion monthly active users and 1 in 5 live streaming users watching TikTok LIVE, there is a significant potential audience for streamers to tap into. Additionally, the platform’s diverse demographic breakdown, including a high percentage of users aged 18-24, provides an opportunity for streamers to tailor their content to specific audiences.
However, it is essential to note that the competition on TikTok is fierce, and building a following can be challenging.
The algorithm prioritizes popular and engaging content, so creating high-quality, attention-grabbing content is essential for success.
Additionally, you also can’t straightly live stream on TikTok since you need to have at least 1000 followers first. Furthermore, streamers may need to adapt their content to fit TikTok’s short-form video format, which can be a significant departure from traditional streaming content.
Ultimately, whether or not to start streaming on TikTok in 2023 depends on individual streamer’s goals and willingness to adapt to a new platform.
With the right content and approach, TikTok can be an excellent tool for streamers to reach new audiences and grow their brand.
In conclusion, TikTok’s popularity is on an upward trajectory, with its user base, revenue, and features all experiencing significant growth.
The platform’s demographics indicate that it appeals mostly to younger audiences, but its broad reach means that it has something to offer for everyone. The future of TikTok looks bright, and it will be interesting to see how the platform evolves in the years to come.
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