- Tiktok was launched in India in August 2017.
- There are 500 million users across the globe and 200 million in India.
- Total earning of $97 million till date globally by Tiktok.
TikTok- the short video app owned by ByteDance is turning towards a new advertising strategy to monetize their app and it seems this strategy is paying off heavily for the Chinese entity.
The latest reports suggest Tiktop in-app purchase section of revenue has grown rapidly. According to the sensor tower report, in-app purchases revenue touched $9 million in May. It registered a hike of over 500% as compared to last year figure which was $1.5 million. It has earned about $7.4 million from in-app purchase in April.
China and the US markets were the largest contributors of this section with 65% and 22% respectively. India accounted for half a percent of spending, about $45,000 despite being the largest market of the app.
Tiktok has emerged as a new popular advertising platform for the brands across India. Popular Indian firms including online retailers such as Voonik, Myntra, ShopClues, Snapdeal, and Cuemath are placing ads on it.
The Chinese firm is trying to drive user growth in the country. It was banned by the Madras High court in April for inappropriate content. The ban was lifted after 20 days but it did hamper its user base growth for the month in India. It became one of the most popular apps in India since its launch in August 2017.
Tiktok emerged as a major competitor for social media platforms such as Instagram, Facebook and Periscope soon after its launch in 2016 due to its short video feature which allows users to create videos up to 15 seconds.
Tiktok recorded 188 million new installs in March quarter beating Facebook which got 176 million new downloads in the same period. 47% of Tiktok new users belonged to India.
It claims to have over 500 million users worldwide and over 200 million in India (120 million monthly active users). It became one of the most popular apps in India since its launch in August 2017.
Globally, the short video app has earned around $97 million till date. The app owned by Bytedance aims to cross $100 million this month.
Timeline
August 2017:- Tiktok launched outside of China.
June 2018:- Tiktok reaches 100 million users.
October 2018:- A 24-year-old from Chennai allegedly commits suicide following harassment by TikTok users for posting videos of himself dressed as a female.
January 2019:- S Ramadoss, founder of the Pattali Makkal Katchi party in Tamil Nadu, asks the state government to ban TikTok.
April 2019:- It was banned by Madras high and removed from Play Store on government orders.
20 days later the Supreme Court of India lifts the ban from Tiktok.
May 2019:- Tiktok announces to monetize the app in India.
Till now, It has been a journey with lots of low and high for the short video app. With Bytedance investing more in the Indian market, Tiktok is certainly going to get more users.
