CapCut has surpassed $100M in user spending. The app, owned by TikTok’s parent company ByteDance, allows users to edit videos and audio, and upload directly to TikTok, making it a popular choice for casual users and professional creators alike. Now, market research firm data.ai shows that nearly 25% of TikTok’s 2.1B users use CapCut. And with consumer spending on the app reaching $50M in just the first half of 2023, the platform “has emerged as the most profitable video editing app globally” so far this year. YPulse has told you before how integral CapCut has become for viral trends on TikTok, which makes it a useful tool for brands looking to connect with Gen Z on the app, too. (Technode)
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