TikTok Turns

TikTok Turns: ByteDance’s hit video app is on track to triple revenue this year to $12 billion, threatening Facebook’s hold on social media.

Alyssa McKay used to work part-time at a frozen yogurt store in Portland, Oregon, making minimum wage to cover her college tuition. Now the 22-year-old earns more than $100,000 a year on the short-video platform TikTok. Brands like Coach, Netflix and Amazon Prime Video pay up to reach her 9 million followers, mostly teenage and pre-teen girls who wouldn’t dream of visiting Facebook.

Washington turns up the heat on TikTok

“TikTok definitely 100% changed my life,” says McKay, who recently moved into her first apartment with her dog.

The most downloaded app of 2021, TikTok has surged to a billion-plus global users, who consume an infinite feed of short clips delivered instantly by algorithm. While the platform has long helped creators like McKay step to the center of the attention economy, the company is only now starting to cash in on all that popularity.

TikTok raked in nearly $4 billion in revenue in 2021, mostly from advertising, and is projected to hit $12 billion this year, according to the research firm eMarketer. That would make it bigger than Twitter Inc. and Snap Inc. combined — three years after it started accepting ads on the platform.

Doja Cat Feuding With Noah Schnapp Over ‘Stranger Things’ Crush Turns Twitter Upside Down

Can’t Get Enough

TikTok is the most addictive social app by user time spent per month

“It’s definitely a threat to Google and Facebook,” said Pieter-Jan de Kroon, chief executive officer of the online ad firm Entravision MediaDonuts. “TikTok is starting to command a percentage of the media budget that’s more in line with its audience size.”

Alphabet Inc.’s Google and Facebook, now Meta Platforms Inc., are the giants of online advertising, a duopoly so powerful they have been hit with antitrust complaints in the US, the UK and the European Union. TikTok and parent ByteDance Ltd. is shaping up to be the most serious threat to that chokehold since the pair rose to power over the past two decades.

The Summer I Turned Pretty’ Is More Than TikTok Cringe

With a billion monthly active users, TikTok is still smaller than Facebook (2.9 billion) and Instagram (2 billion), also part of Meta. Yet TikTok’s programming is proving unusually compelling: Its average user in the US now spends about 29 hours a month with the service, more than Facebook (16 hours) and Instagram (8 hours) put together, according to mobile researcher Data.ai. Scott Galloway, a professor at New York University Stern School of Business, has likened the service’s addictiveness to opium.

This isn’t beginner’s luck. ByteDance, TikTok’s parent, has been developing apps with algorithms for recommending just the right video clip or news story ever since Zhang Yiming founded the company ten years ago. The Beijing-based firm built a Chinese version of the TikTok platform, Douyin, that already has more than 600 million users and a battle-tested business model. ByteDance’s revenue hit an estimated $58 billion last year and its growth is faster than any other major social network.

The Summer I Turned Pretty’ Is More Than TikTok Cringe

TikTok is starting to show the profit potential in countries like the US. The company is now charging as much as $2.6 million for a one-day run of a TopView ad — the first thing that pops up on users’ feed when they open the app — roughly four times what it charged a year ago, according to a document reviewed by Bloomberg News. A 30-second Super Bowl ad runs about $6.5 million — but TikTok can charge that rate every day.

The ByteDance model goes beyond advertising. TikTok is diversifying into music distribution, game publishing and Twitch-style subscriptions. It’s also edging into e-commerce, blurring the line between social media and online shopping in ways that could challenge Amazon.com Inc. The video-sharing platform now lets merchants set up digital stores in countries like Britain, Indonesia and Thailand, where millions of users purchase products directly inside the app without any involvement from traditional e-commerce.

‘The Summer I Turned Pretty’ Is More Than TikTok Cringe

“TikTok is TV for Gen Z,” said Jo Cronk, president of marketing firm Whalar. “If you want your brand, your product, your service to get attention with Gen Z, that’s just a non-negotiable today.”

Read ByteDance founder Zhang Yiming’s first interview with foreign media

Mark Zuckerberg is starting to sound a little worried. The Meta co-founder blasted his Chinese rival for censorship in 2019 and later told Congress that hindering American innovation would only help Chinese companies like TikTok, perhaps to blunt antitrust scrutiny.

Then in February, Meta reported disastrous earnings that triggered a $230 billion stock wipeout. Zuckerberg name-checked TikTok no fewer than five times in a post-earnings call. The primary thing he flagged for recovery was to spend more resources on Reels, essentially a TikTok copycat.

Videos

Turning Red – Compilation

YouTube · Best of TikTok

Turning Red – Compilation

YouTube · Presto Povs

Turning Red – Compilation

YouTube · Presto Povs

Turning Red – TikTok Compilation

YouTube · Entertainment HQ

#turns Hashtag Videos on 

https://www.tiktok.com › tag › turns

#turns. 343.7M views. Get the full experience on the app. Follow your favorite accounts, explore new trends, and create your own videos. Open 

#turn Hashtag Videos on 

https://www.tiktok.com › tag › turn

turn | 394.4M people have watched this. Watch short videos about #turn on . … #turn. 394.4M views. Get the full experience on the app. Open

Discover tik tok turns ‘s popular videos | 

https://www.tiktok.com › Discover

Discover short videos related to turns on TikTok. Watch popular content from the following creators: PettyRo_Official(@pettyro_official), 

Turns On the Money Machine – Bloomberg.com

https://www.bloomberg.com › news › features › tiktok

23-Jun-2022 — Turns On the Money Machine … TikTok raked in nearly $4 billion in revenue in 2021, mostly from advertising, and is projected to hit 

Tikked off: What happens when fame fades – Vox

https://www.vox.com › tiktok-famous-backlash

27-Feb-2020 — Want to know how to be famous on ? … A social media app has never turned kids into celebrities — or has-beens — faster.

Washington turns up the heat on – Axios

https://www.axios.com › Technology

4 days ago — is facing a renewed round of bipartisan alarms over how fully it protects U.S. users’ data from the Chinese government.

Levelling up: why Netflix and are turning to gaming to 

https://theconversation.com › levelling-up-why-netflix

21-Jun-2022 — The streaming wars are heating up. In March, Disney delayed the release date of Obi-Wan Kenobi to May 27 to coincide with the launch of 

Becomes the First Non-Facebook Mobile App to Reach

https://sensortower.com › tiktok-downloads-3-billion

Sensor Tower data reveals that has now surpassed 3 billion installs globally, the first non-Facebook app to do so.

Pinterest turns its -like Idea Pins into ads TechCrunch

https://techcrunch.com › 2022/06/15 › pinterest-turns-it

15-Jun-2022 — Pinterest turns its -like Idea Pins into ads … Last year, Pinterest began its pivot from being an online image board to being more of a 

Turns Cash Machine With Revenue Tripling to $12 Billion

https://news.bloomberglaw.com › tech-and-telecom-law

23-Jun-2022 — The most downloaded app of 2021, has surged to a billion-plus global users, who consume an infinite feed of short clips delivered 

TikTok Social Media Privacy Settings – Internet Matters

https://www.internetmatters.org › parental-controls › tik

Step 2 – Go to Digital Wellbeing, then Screen Time. Step 3 – Follow the steps in the app to turn on Screen Time Management. 1. -step1-2.

Most controversial trends that went viral on TikTok – Dexerto

https://www.dexerto.com › entertainment › dangerous-t

When trends turn dangerous: Most controversial trends that went viral on TikTok. Georgina Smith . 13 days ago. . Nyquil chicken trend next to a 

How TikTok is turning a generation of video addicts into a data

https://www.theguardian.com › commentisfree › jun

25-Jun-2022 — The Chinese tech giant is taking surveillance capitalism to a new level. It’s almost enough to make you feel sorry for Zuckerberg.

Tikok becomes king of apps – LinkedIn

https://www.linkedin.com › news › story › tiktok-become

TikTok becomes king of apps … TikTok surpassed Facebook to become the world’s most downloaded social media app in 2020, according to a Nikkei Asia survey

Star-Turned-Musician Bella Poarch on the Impossibility 

https://www.vogue.com › article › bella-poarch-music

14-May-2021 — The third most-followed person on , Bella Poarch, talks racism, body positivity, and why she’s serious about making music.

How to Turn On Profile Views on – Nerds Chalk

https://nerdschalk.com › how-to-turn-on-profile-views

26-Apr-2022 — has reintroduced a formidable feature into its functions — it is none other than Profile Views. A feature that was silently taken off 

TikTok Is Boosting Artists Like Lil Nas X. But Who Benefits?

https://time.com › tiktok-artists-money

23-May-2019 — Is Turning New Artists Into Viral Sensations. But Who Actually Benefits? … In 2017, a little-known rapper named Supa Dupa Humble released 

How to turn on TikTok’s dark mode – Mashable

https://mashable.com › Tech › Apps and Software

23-May-2022 — Here’s how to turn on dark mode on , so you can spend the night scrolling through your For You page in peace.

 

 

 

 

 

 

SOURCE URL

 

 

Leave a Reply

Your email address will not be published.