On TikTok we dance and dance, according to the data reported by Apptopia, are not only users but also ByteDance, the Chinese company that controls it. The popular short video recording application, which recently outpaced 1.5 billion downloads, has seen its in-app purchase revenue increase 310% year-on-year.
But the revenue generated by TikTok is impressive not only in terms of percentages. According to a graph shared by Adam Blacker of Apptopia, revenues of $ 50 million were reached and exceeded in the fourth quarter of last year with a sequential growth of over $ 20 million. With such quarters, TikTok could generate hundreds of millions of dollars in revenue annually.
A decidedly important success for ByteDance, a company worth almost 80 billion dollars, known both for TikTok and for its social media service Toutiao. TikTok was born from the merger of Musical.ly, which ByteDance purchased in late 2017, and its Douyin application.
TikTok is having so much success on the American market that some states have banned its use because of concerns about possible connections with the Chinese government. In this regard, the US government would also have launched an investigation to check for any national security risks.
For its part, ByteDance, to avoid international blockages, is trying to cut the bridges between TikTok itself and the Asian country, creating a new office outside national borders and entrusting it to safer "neutral" servers. For this reason, the company published its first Transparency Report.