On TikTok, users are spending more and more money on influencers

More and more users are sending money to content creators on TikTok via the ‘virtual gifts’ option. — AFP Relaxnews

TikTok users seem to be more than generous. With the ability to send money in the form of gifts to influencers, TikTokers users no longer hesitate to put their hands in their wallets. And according to one report, they spent over US$250mil (RM1.16bil) in the third quarter of the year.

This impressive figure hails from the latest report by The Information about spending on TikTok in the third quarter of 2023. According to the data collected, users of the Chinese social network readily paid out money to influencers by sending them virtual gifts. They even spent over US$250mil (RM1.16bil) on virtual gifts for influencers during various live events.