TikTok becomes the first app with every $10 billion in in-app spending -.

As expected, the most popular video sharing and social media app is also succeeding in getting many of its users to separate their money from their bank accounts. In a report published by Bloomberg focusing on in-app spending, it is clear to see that TikTok is leading the charge.

Spending on mobile apps as a whole also reached a new high of $64 billion in 2023, so it’s not just TikTok that’s causing people to spend their money. However, the video sharing app is the first to reach this $10 billion milestone, which is likely explained by the methods TikTok has implemented to increase spending.

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Tipping your favorite creators is something that is sure to boom in 2023, with the rise of NPC livestreams. Sending your favorite creator a rose may cost less than a US dollar, but over time those small expenses add up, allowing TikTok to bring in money.

How much money have you spent on apps?

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