TikTok hits $10 billion user spending milestone

 Now I review news from CNN by Juliana Liu on December 13, 2023.

TikTok has achieved a significant milestone, surpassing $10 billion in global consumer spending, making it the first non-gaming app to achieve this feat. The short-form video platform is predicted to become the highest-earning app ever, potentially reaching the $15 billion mark in 2024. The report from app intelligence provider data.ai identifies TikTok's in-app purchases, particularly the bundle of 1,321 coins for $19.99, as a major contributor to its revenue. TikTok's popularity and spending are expected to continue growing, with users projected to spend a 40-hour work week monthly on the app by the end of 2024. Despite ongoing concerns and controversies, including its connection to China and potential impact on mental health, TikTok has recently secured legal victories in the United States.