TikTok broke records in the third-quarter as the top grossing app, according to a report by Sensor Tower, despite the fact that the general app market is seeing a minor downturn.
Combined with the Chinese version of TikTok, "Douyin," TikTok is the number one app with the most amount of accumulated income throughout both the App Store and Google Play. In one quarter alone, TikTok has acquired about $914.4 million from consumers.
According to Sensor Tower, "TikTok was once again the most downloaded non-game app across both marketplaces, reaching approximately 196.5 million installs in 3Q22."
Although the amount of overall spending on other apps, like mobile games, has mostly decreased throughout 2022, mobile apps like TikTok have remained steadily the same in terms of leading the way for revenue. TikTok was the most frequently downloaded non-gaming app and saw about 196.5 downloads on Google Play (NASDAQ: GOOGL) and the Apple App Store (NASDAQ: AAPL).
Various data has revealed that app downloads from users have overall declined. But data has also shown that the app decline mainly came from the Google Play Store, and that app downloads have actually increased by 3.8% in the App Store.
In total, according to Sensor Tower, Douyin has accumulated about $433.5 million in revenue, or approximately 47% of total consumer spending. On the App Store, TikTok was the No. 1 non-game app and No. 2 on Google Play. Up until now, both TikTok and Douyin have accumulated about $6.3 billion in total income, as also reported by the Sensor Tower.
Although TikTok has seen a steadily rising increase in interest with time, the general interest in app downloads has decreased. In addition, "Worldwide downloads of mobile games remained flat in 3Q22 at 13.7 billion," the Sensor Tower said. Generally speaking, throughout the first part of 2022, the amount of spending increased by 1% in the mobile market as a whole.