AsianFin -- TikTok’s revenue in 2024 surged 42.8% year-over-year, hitting a record $23 billion. This growth positions TikTok as the world’s fourth-largest social media app by revenue, trailing only Facebook, Instagram, and YouTube.

Analysts noted that despite ByteDance’s overall net profit growth and profit margins slowing in 2024, its overseas business—led primarily by TikTok—delivered a 63% year-over-year revenue increase. This segment now accounts for a historic high of one-quarter of ByteDance’s total revenue.