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TikTok says it now has more than 1 billion monthly active users

The app’s monthly active users in August were up 25% compared to the same month last year, according to app store intelligence firm Sensor Tower.

The announcement solidifies TikTok’s place among the competitive ranks of legacy social media platforms like Facebook, YouTube and Facebook-owned Instagram, the latter of which hit 1 billion monthly users in June 2018. By contrast, Snapchat (SNAP), which has been around nearly twice as long, said earlier this year that it had reached 500 million monthly active users. When Twitter (TWTR) last reported this metric in 2019, it had 330 million monthly active users.
During the pandemic, TikTok was successful in drawing in more millennials and high-profile creators from Instagram and other sites. TikTok also launched a $1 billion creator fund last year to encourage users to create content on the platform.

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