Tiktok, launched in 2018 by Chinese tech giant ByteDance, is the world’s fastest growing social app.
Its Chinese heritage has also led to various controversies. Many politicians in the US are now advocating to ban the app outright.
The bulk of the revenue that TikTok generates comes from ads displayed in between videos, branded hashtags, and more.
TIKTOK FOR BUSINESS WEBSITE
Users on TikTok can launch their own e-commerce store. TikTok takes a percentage cut from each sale a creator makes.
TIKTOK SHOP WEBSITE
In March 2022, TikTok introduced a music distribution platform called SoundOn. TikTok, after 2 years, pockets 10% of the royalty fees.
Creators can receive virtual gifts called Diamonds during their livestreams. TikTok retains 50% of the Diamonds earned.