According to App Annie’s annual review of the top performing
apps by downloads and revenue, TikTok ranked as number 2 among Top Breakout Apps
that have registered the biggest change in spend over 12 months. Moreover,
TikTok’s editing app CapCut, launched in April of 2020, made it to the top in
the Breakout Downloads chart.
What’s interesting to note is that while TikTok and CapCut
are leading the charts, other apps that are highlighted in the charts include replica
apps of TikTok like India’s MX TakaTak and Moj, since TikTok is banned in the
country. This shows how strong of an impact TikTok has in the social media
world, that new social apps are just replicating its features and elements. Therefore,
the broader shift is not just based on TikTok’s popularity, but the kind of
trends and behaviors that the platform has given rise to.
Even Twitter is planning to introduce an Explore feed which
would resemble TikTok’s display, whereas Instagram is experimenting with a new
vertical format for Stories. Pinterest’s feed of Idea Pins also looks like TikTok’s
and Snapchat’s Spotlight feed was
launched in a TikTok style format as well.
Moreover, TikTok has ranked high in terms of overall app
spend and has seen the biggest jump year-over-year. This is especially a big achievement
for the app in relation to its expanded eCommerce and monetization goals, which
will help fuel its creator economy - a significant element in making the app reach
more than a billion users.
All in all, App Annie’s data reveals that TikTok has a strong stance in the social media world and will keep becoming a bigger platform, hence also providing business opportunities to more creators.
