TikTok has suffered a drop off in its growth for the first time last quarter, with fewer downloads of the popular lip-syncing app…
The explosive popularity of TikTok might well be coming to an end. At least, there are signs of a slow down in growth. The Chinese social media site has suffered its first real blow.
TikTok User Growth Decline Recorded Last Quarter
Launched in 2016 as a simple lip-syncing app called Musical.ly, it was later acquired by ByteDance and rebranded as TikTok in 2017.
Just in those short two and a half years since its relaunch outside of China, TikTok has experienced enormous growth. It’s added 500 million users just in this year alone — so far — nearing 1.5 billion users in total.
However, according to fresh data compiled by SensorTower, TikTok just took its first real hit, suffering a decline in growth last quarter.
The number of first-time downloads for the period ending on September 30th totalled 177 million, representing a 4 percent drop off from the same time in 2018.
Some of this slow down might be attributed to TikTok’s pull back in Facebook ad spending, which has accounted for a substantial portion of its marketing.
Additionally, the growth rate of its user base inside the United States has significantly slowed after spending less on Facebook ads.
Recently, the United States government initiated a national security review of TikTok through the Committee on Foreign Investment in the United States, or CFIUS.