SG consumer spending fuels CapCut’s rise in Southeast Asia

CapCut, ByteDance’s video editing app, surpassed US$100 million in global consumer spending across Android and iOS devices as of September 11, numbers from Data.ai show.

Launched in 2020, CapCut lets users add effects, music, and filters to their videos.

In Southeast Asia, Singapore contributed most of the spending, with a massive 628% month-on-month growth in March.

The platform also experienced continued consumer spending growth in Indonesia, Thailand, and the Philippines. In Vietnam and Malaysia, growth was consistent but slower.

As of August, CapCut had a global user base of 490 million people, with a strong presence in China, Europe, Latin America, the Middle East, and the US. In comparison, TikTok had 2.1 billion global users as of the same month.

In Southeast Asia, CapCut downloads spiked January 2023, mostly driven by Vietnam. The app continued to attract more users in Malaysia and the Philippines, but downloads slowed down in Malaysia, Singapore, Indonesia, Thailand, and Vietnam through August.

Subscriptions are CapCut’s main source of revenue, and the introduction of generative AI templates and effects into its iOS app in April further boosted its global popularity, according to Data.ai.

ByteDance also released a CapCut plugin for ChatGPT users in July, enabling users to create video content using AI.

See also: Uncertain future: TikTok Shop faces first regulatory headwinds in Indonesia