TikTok and Disney+ Outshine Games in Record Year for Mobile Apps
- TikTok is first app to surpass $10 billion in user spending
- A slump in spending on games in China dragged global results
A TikTok advertisement at a Metro station in Washington, DC.
Photographer: Andrew Harrer/BloombergByteDance Ltd.’s TikTok became the first app to surpass $10 billion in cumulative consumer spending, helping power mobile app sales to a new high in a year revenue from games was down, according to the latest annual report by data.ai.
Video-streaming platforms like TikTok and Disney+ drove an 11% rise in consumer app sales in 2023, showing resilient demand while the games industry dealt with a double-digit sales decline in China that dragged global sales down 2%.