CapCut Just Became the Second ByteDance App to Reach $100 Million

ByteDance has emerged as a true contender for domination in the world of tech, especially when you look at social media with all things having been considered and taken into account. Some might say that ByteDance is reliant entirely on its flagship app, TikTok, but in spite of the fact that this is the case, ByteDance has managed to broaden its horizons by creating new apps that can come in handy for those that want to post their videos online.

This is where CapCut comes in, and with all of that having been said and now out of the way it is important to note that has just under 500 million global users or 490 million to be precise. This is around 25% of the number of users that TikTok has, 2.1 billion, which just goes to show that the video editing app is allowing ByteDance to diversify more than might have been the case otherwise.

With downloads growing by 36% in the first half of 2023 as compared to the first half of 2022, ByteDance will be doubling down on this app to provide a wider assortment of features to their dedicated user base. It has become the number 1 app in terms of consumer spending, which also means that it became just the second ByteDance app to cross $100 million in revenue.

This consumer spending was seen across both the App Store as well as the Google Play Store, and it makes it seem like ByteDance has a lot more to offer than just TikTok. Its main markets are currently China, Southeast Asia and the US, but it has also seen some tremendous growth in other regions.

CapCut saw a 54% increase in downloads in the UK, 99% in Egypt, 98% in Mexico, 25% in Germany and 29% in Saudi Arabia, as well as a 27% growth rate in Brazil. This just goes to show that CapCut is not just reliant on a single market to keep its growth rate up, and it will be interesting to see how this impacts other social media competitors of TikTok.

H/T: DataAI

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