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TikTok Hits $6B in Annual Consumer Spending Milestone

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  • TikTok and Douyin hit $6B in in-app purchase revenue in 2024
  • Significant year-over-year revenue increase from $4.4B in 2023
  • TikTok surpassed all other apps in revenue despite being No. 2 in Q4 2024 downloads
  • Users spend on virtual gifts for creators, contributing to TikTok's success
  • Douyin's inclusion in comparison to TikTok adds complexity to revenue analysis
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