With over 3 billion downloads since its launch in 2016, it’s safe to say that TikTok is taking the tech world by storm and has traditional social media companies like Facebook and Instagram shaking in their (virtual) boots.
Is this just another social media fad that will quickly fade, or is it worth incorporating into your marketing strategy? Below are ten revealing TikTok stats in 2023.
1. TikTok overtakes Facebook as most valuable social media brand
Data from Q1 2023 shows TikTok is valued at 11% higher than Facebook.
How is TikTok faring against its competition? The popular app has surpassed its competitor Facebook as the most valuable social media brand in the world. According to Brand Finance’s annual Global 500, TikTok was valued at $US65.7 billion, while Facebook fell from $US 100 billion to $US58.8 billion.
2. TikTok has a higher valuation than Instagram
Data from Q1 2023 shows TikTok has a 65% higher valuation than Instagram.
While Instagram is still a popular app with many social media users, TikTok has once again won out on brand value. While TikTok has been valued at 65.7 billion US dollars, Instagram’s valuation currently stands at 33.48 billion US dollars.
3. One-third of all USA adults don’t like TikTok
A 2021 poll revealed 34% of US adults say they don’t like TikTok.
The online poll, which was conducted in the United States from October 29 to November 1, 2021 with 2,200 respondents aged 18 years and older, found that roughly one-third of all US adults have an unfavorable opinion of TikTok, compared to 37% of adults who have a more positive opinion of the app.
4. Two-thirds of parents in the US are uncomfortable allowing their children to use TikTok unsupervised
A 2022 poll revealed that 68% of parents do not approve of their children using TikTok unsupervised.
While TikTok has proven its popularity with the younger generation, not all parents are convinced that it is the best choice for their child. The poll, which was taken between August 23 and August 29 2022, with a sample size of 822 people, found that two-thirds of parents are weary of allowing their children to use TikTok (and other social media) without supervision.
5. Projected 15 million TikTok users in the UK by 2025
TikTok appears to be going from strength to strength since its launch in 2016, and it is showing no signs of stopping. It is projected that there will be 15 million TikTok users in the UK alone by 2025.
6. Charlie D’Amelio is the highest-paid TikTok creator in 2023, earning $20m
Data from Q2 2023 revealed Charlie D’Amelio is the highest-paid TikToker, making 20 million dollars (USD) per year.
TikTok tends to keep its business model pretty private, but we do know that the most popular creators are getting paid a pretty penny for their efforts.
7. Children prefer TikTok to YouTube
Data from Q4 2021 showed children, on average, spend roughly 23 more minutes per day on TikTok than on YouTube.
It is estimated that children spend 62% more time watching videos on TikTok than YouTube, further proving its appeal to the younger generations. (Based on anonymous information provided by 400,000 families with children aged 4-18 years old in the United States, the United Kingdom, and Spain – from January 1, 2021, to December 31, 2021).
8. 55% of users have bought a product after seeing it on the platform
As of 2021, 550 million users have made a purchase directly after seeing it on the platform.
Like any popular social media, TikTok provides a fantastic space for advertising. In fact, a Student Beans survey found that 55% of users have bought a product after seeing the brand on the platform.
9. Many users get their news on TikTok
According to a Pew poll, 25% of US adults under 30 get their news from TikTok.
TikTok isn’t just for fun trends and viral dance routines – it is fast becoming a platform where users get their news content. According to the Pew Research Center, 25% of US adults under the age of 30 get their news on TikTok regularly.
[This survey was conducted by surveying 12,147 US adults from July 18 to Aug. 21, 2022].
10. TikTok users open the app 19x per day
Data from Q2 2021 reveals the average TikTok user opens the app 19 times per day.
TikTok is known for being highly addictive thanks to its powerful algorithm – and people can’t seem to put it down. Research shows that an average TikTok user in 2023 opens the app 19 times per day. This is more than twice as many opens as the average Facebook user, who opens the app 8 times a day on average.