TikTok to exceed one billion users in 2021: Study

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 11, 2020, 9:40 AM GMT+0

App analytics provider App Annie analysed TikTok’s recent user growth and plotted its expected course over the next year.

Based on the App Annie study, ByteDance-owned video sharing platform TikTok is expected to surpass the one billion-user benchmark in 2021. TikTok has seen a sharp growth in the number of users worldwide and saw the second-highest consumer spend among non-gaming apps sector in third-quarter 2020.

Assuming that TikTok remains operational in the US, the platform would hold a strong position entering the new year. For marketers, this would open up new opportunities and present significant value as a brand promotion vehicle.

TikTok’s one billion-plus users could make it harder for big brands to ignore it in the media plan. However, It is expected that some companies would remain hesitant due to the app’s current legal challenges.

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