Users can purchase virtual currency to spend on supporting their favorite content authors.
According to Bloomberg, the popular TikTok application and its Chinese twin Douyin took first place in the world among mobile applications in terms of revenue in April 2020. This is only about in-game purchases, this does not include income from games and advertising.
TikTok and Douyin users spent $ 78 million in a month, ahead of YouTube, Tinder, and Netflix users, who more recently were much more popular services. The Chinese market, served by Douyin, brought 86.6% of the revenue, another 8.2% came from the United States. In any version of the application, users can purchase virtual currency in order to spend it on supporting their favourite content authors.
Emarketer expects more than 75 million U.S. social media users aged 14 and over to make at least one purchase on this platform in 2020, which is 17.3% more than in 2019.
In the first quarter of 2020, TikTok and Douyin have downloaded 315 million times. A year earlier, it was about 187 million downloads. The coronavirus pandemic had a positive impact on the popularity of video-sharing applications.
