‘TikTok provides a small part of the turnover of parent company’

TikTok is responsible for a small part of the turnover of parent company ByteDance this year, claims Reuters news agency. Most of the turnover comes from apps for the Chinese market. The company’s figures are not public.

TikTok’s Chinese counterpart Douyin is responsible for about 60 percent of ByteDance’s revenue, Reuters claims. Another 20 percent comes from the Chinese-language news aggregator Jinri Toutiao and about 3 percent comes from Xigua, a platform for longer videos. That leaves at most around 17 percent of the turnover for TikTok.

That turnover would amount to around 180 billion yuan, the news agency claims. Converted this is currently about 23 billion euros. This would bring the turnover from TikTok to a maximum of several billion euros on an annual basis. TikTok makes money from ads, which appear in users’ feed as videos with attached link.

TikTok is now also still awaiting a decision from the American government; The deadline for a ban by government body CFIUS expires on Thursday, but the US government has not spoken for weeks, ByteDance reports in a statement to The Verge. It is unknown whether the lack of response is related to the election that took place in the US last week.

ByteDance had proposed a deal to create a US subsidiary with Oracle and Walmart, but the deal was not approved by the Chinese government. It is unknown what will happen after Thursday, because three users successfully challenged the possible ban in court.