As of September 11 this year,Music Archives ByteDance’s popular video editing app CapCut has surpassed $100 million in consumer spend across iOS and Google Play, according to a September 13 statement by market research firm data.ai. TikTok’s parent company ByteDance launched the app in 2019. As of August 2023, CapCut boasted 490 million users globally across both iPhone and Android devices, accounting for nearly 25% of TikTok’s 2.1 billion global user base, the research firm said. According to data.ai’s App IQ taxonomy, CapCut has emerged as the most profitable video editing app globally in the first half of 2023, with consumer spend reaching a record high $50 million, marking a 180% increase compared to the second half of 2022, the firm added. [data.ai statement]
