Is TikTok Profitable 2024?

When was TikTok Founded?

TikTok, which is known as Douyin in its home market, was first launched in Beijing, China in September 2016.

TikTok's International Expansion

Although many Chinese apps, such as WeChat, have failed to expand internationally, TikTok expanded internationally by acquiring Musical.ly for $1 billion in 2017.

TikTok Number of Downloads

It was downloaded 693 million times in 2019 and 850 million times in 2020. It was also the 7th most downloadable app of the 2010s.

TikTok’s Revenue

TikTok has rapidly increased its revenue, making $14.3 billion annual revenue in 2023 which shows an increase of 52% year-on-year.

How Does TikTok Make Money?

1. Hashtag Challenges 2. In-Feed Ads 3. Branded Effects 4. Brand Takeovers 5. Influencer Partnerships

TikTok Users

In 2023, TikTok’s user count reached 1.5 billion, a 16% increase compared to the previous year.

Is TikTok Profitable?

ByteDance, the parent company of TikTok, made a $6 billion profit in the 2023 Q1.