ByteDance’s TikTok has become one of the very few Chinese-owned apps to achieve success outside China. TikTok currently ranks second after American subscription video on-demand streaming service Disney+ in the entertainment category in the US iPhone app store, according to data provider Sensor Tower. — SCMP
TikTok’s owner ByteDance has overtaken Baidu to become China’s second-largest digital ad player, accounting for 23%, or 50bil yuan (RM29.64bil) of all digital media spend in the country in the first half of 2019, leapfrogging Baidu and Tencent and behind only Alibaba.
The owner of the global short video hit app, which is facing pressure in the US over censorship concerns, achieved 113% growth in ad revenue in the first half compared to the same period last year, according to the China Media Inflation Trend Report 2020 conducted by consultancy R3.
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