TikTok revenue soars by 200%
International Business News – In the past two years, the overseas version of TikTok of Douyin has become popular all over the world, constantly refreshing digital records, which is comparable to the popularity of Douyin in China, but do you know how popular Tik Tok is overseas?
TikTok guides the trend of European and American trends
TikTok has profoundly changed the entertainment model of the overseas Internet. “Social Media Today” pointed out that Facebook and Instagram are declining, and TikTok has become the new home of entertainment. Songs that have become popular from Tik Tok can dominate the major overseas music charts in a short period of time. They can not only quickly “popularize” the Internet Divine Comedy, but also become popular with many Internet celebrities and singers. Celebrities from all walks of life have entered TikTok.
Zoe Lemar, who works at a bagel shop in Los Angeles, amassed more than 45 million views after she choreographed a song and posted it on TikTok, making her a TikTok celebrity, NBC Business News reports , and Benee, the original singer of this song, has also become a popular singer in the world, and Lema now has over 6 million fans on TikTok.
There are many examples of this kind of overnight popularity because of Tik Tok, Colombian singer Kali Ucís’s song “telepatía” propelled her to a global star after her popularity on TikTok. This hit song on Tik Tok won the Best Latin Song Award and also earned Kali the 2022 Billboard Music Awards for Best Latin Female Artist.
According to TikTok’s annual music report, more than 175 songs trending on TikTok will top the Billboard Hot 100 in 2021, double the number of the previous year. “TikTok has set a trend that has reverberated across the culture, the industry and the charts.”
Advertising revenue soars more than push
According to eMarketer, a world-renowned market research agency, TikTok’s global advertising revenue will soar 200.0% this year to $11.64 billion. Although it lags behind Meta, it has surpassed Twitter, Snapchat and Pinterest.
eMarketer pointed out in an article that TikTok is winning the favor of Gen Z, with 61.3% of Gen Z groups in the United States using TikTok at least once a month. According to research from the Pew Research Center, 58 percent of U.S. teens ages 13 to 17 visit TikTok at least once a day, and 16 percent visit TikTok “almost all the time.” That popularity has translated into explosive growth in TikTok’s ad revenue. This year, TikTok’s net income will reach $5.96 billion, more than Twitter and Snapchat combined.
Contemporary young people in the United States also regard TikTok as a search tool. Google Senior Vice President Prabhakar Raghavan disclosed internal data in July, indicating that nearly 40% of young people aged 18 to 24 in the United States have Use TikTok and Instagram instead of Google for their search needs.
eMarketer also said that TikTok has overtaken Snapchat to become the third most popular social network in the UK, and that the gap will widen as it continues to grow. eMarketer expects that in 2022, the average UK adult aged 18 and over will spend 49 minutes on TikTok. By 2026, one-third of the UK’s population and more than half of its mobile social network users, or 21.1 million people, will be fans of TikTok.
Kids and advertisers are addicted to TikTok
The well-known financial magazine “Fortune” pointed out that TikTok has more than 1 billion users and has risen to the highest level of the world’s Internet social media services in just a few years. The rapid rise of China’s TikTok has attracted the attention of mainstream Internet companies in the United States, and big companies in Silicon Valley are panicking about it. “In the entire Silicon Valley, the topic of TikTok is everywhere.”
Fortune notes that as TikTok’s momentum continues to grow, the tech industry is getting more excited about the video-sharing app. “In an effort to thwart TikTok’s growth, established tech companies sometimes appear capricious, condemning TikTok one day and imitating it the next.”
Meta launched Reels (a short video service on Facebook and Instagram) in the US, a short video product almost identical to TikTok. Google-owned video sites YouTube and Snap have released their own TikTok equivalents, called Shorts and Spotlight, respectively. “None of these copycat features seem to replicate the success of TikTok, and kids and advertisers are addicted to TikTok.”
An internal Wall Street Journal research document shows that Instagram users watch Reels for a combined 17.6 million hours a day, which is less than one-tenth of the apparent 197.8 million hours TikTok users watch every day. The document also shows that about a third of the videos shared on Reels were made on TikTok with a watermark or border indicating their origin.
According to Bloomberg, TikTok generated nearly $4 billion in revenue in 2021 and is expected to reach $12 billion this year, and advertising industry insiders say TikTok is gaining momentum.