San Francisco: TikTok became the highest revenue-generating app among social media on Thursday.
Data compiled by Finbold stated that the Chinese short video app, TikTok, generated $2.5 million daily on Android and iPhone devices worldwide in September. But the devices do not include iPad, IANS reported.
The revenue, when considered hourly, translates to around $104,000. The platform accumulated a revenue of $75.8 million in the entire month of September.
"Notably, TikTok recorded the highest revenue among social media platforms, with the value for Google Play Store standing at $35.14 million to emerge second overall behind the dating app Tinder, which had $37.58 million," IANS wrote.
TikTok's revenue turned out to be the second highest in the Apple App store. TikTok amassed $40.66 million, and the first position was won by the gaming app Coin Master, which had $47.96 million.
Reportedly, the growth of TikTok has birthed a cultural economy containing influencers and marketing agencies dedicated to the platform, with the initiatives central to the app's impressive revenue in a highly competitive social media scene.
The other prominent apps, based on their revenue generated on Google Play, include Honor of Kings ($24.05 million), Candy CrushSaga ($21.1 million), Puzzle & Dragons ($20.84 million), Disney+ ($19.01 million), Game for Peace ($17.87 million), Genshin Impact ($17.03 million), Monster Strike ($16.34 million), and Tencent Video ($15.43 million), IANS reported.