TikTok has quickly become one of the most popular social media platforms, especially among millennials. With 1.59 billion monthly active users globally, it ranks fifth among social networks, with millennials (25-34 years) comprising its largest user segment at 35.3% of the platform's audience. The app's engagement metrics are exceptional, with users spending an average of 58 minutes daily consuming its short-form video content. This popularity has translated into substantial business growth, with TikTok generating $23 billion in revenue in 2024—a 42.8% increase year-over-year—and becoming the first non-gaming app to surpass $6 billion in in-app purchase revenue, demonstrating its powerful monetization capabilities beyond advertising.
