What happened to be just a teen-focused music dub app has now surpassed some big players of the industry. The Beijing-based acquisition of ByteDance 2017 social app formerly known as Musical.ly and currently named TikTok has is stealing spots on the application download charts.
The tech company this year merged the popular Musical.ly with TikTok- another short video application from them in the process of entering the US market. The move is paying off since TikTok is sitting on the top of the U.S. App Store ahead of the social media giant Facebook. Not only that, the music-based apps surpassed Instagram, Facebook, Snapchat, and YouTube on installs per month in September
The data released by Sensor Tower, an advanced app intelligence firm confirmed that TikTok surpassed every other social app in the number of installs last month.
Based on daily downloads, the app surpassed four other apps on 29th of September, when it recorded 29.7 % of total downloads on the App Store.
Since then, the TikTok has continuously beaten the other four apps on the market share with daily download percentage going as high as 42.4% on October 30 just a few days ago.
TikTok has shown a significant amount of growth in September when it gave 31 percent more installs than its previous month with 3.81 million combined first-time installs on Google Play and App Store. In the same month, Facebook claimed the second spot with 3.53 million first-time installs. If we talk about year-over-year stats, TikTok has witnessed an increase of 237 percent from October 2017, when it had a total of only 1.13 million.
Tons of new downloaders make TikTok go past some of these every now and then. Even yesterday, the social music-dub app left behind Facebook at number 7, Messenger and number 5 to sit at number 4 but it was behind YouTube at number 1, Instagram at number 2 and Snapchat at number 3. However, according to App Annie data TikTok has gone as high as number 3 on the overall Free Apps Chart.
TikTok App Engagement Rate
Apptopia, another app researcher confirmed somewhat similar findings with TikTok on the US market. It also stated the app as one of the fastest growing applications on the U.S. market in terms of fresh downloads. However, it also presented some data on app’s engagement rate i.e. the number of monthly users who open the app daily, and the app was behind the other social networks. Apptopia stated that Facebook had 96 percent of engagement, Snapchat had 95 percent, and Instagram and YouTube also recorded 95 percent of engagement but TikTok was way behind with only 29 percent.
Moreover, the company running TikTok has been earning on parts with the app including revenue from increased Facebook ad spend, AdMob- the Google-based mobile ad platform, Vungle- the in-app ad platform, and others.
The company still cannot compare to the growth rate of Instagram and Facebook at their peaks but still competing with giant apps on App Store is not a small feat for the company.