Do you also create videos on TikTok? Well, I am not surprised because at present more than 500 million people create these short-form videos every day in great numbers! TikTok is literally making people of all ages dance and act in the virtual world.
A 15 seconds video clip in TikTok can cast a larger impact than your 100 words post on a social media platform. This is the kind of Tiktok fever that the current world possesses, which is escalating at every tik-tok of the clock!
Owned by the Chinese company, ByteDance, has been recently crowned the world’s most valuable start-up.
What is TikTok?
With a user count of more than 500 million worldwide, the app describes itself as “a destination for short-form mobile videos.”
The company today values at $75 billion does a lot more than just run TikTok – it also owns Toutiao, a popular news platform with a lot more products like Xigua Video, TopBuzz, and BuzzVideo. Currently, it has a magnanimous user base of about 80 million downloads in the United States alone.
Who owns it?
Zhang Yiming, a 35-year-old entrepreneur is the CEO & Founder of ByteDance, who in the past has been involved in the creation of a real estate search engine.
He was a big fan of biographies and spent a lot of time reading in college. Zhang, refrains himself from public appearance and attends extremely fewer interviews, which makes it really difficult to find information about him.
Zhang calls himself as a socially awkward, “science man”.
How does TikTok make money?
TikTok offers in-app purchases of coins, starting at 100 for $0.99 and leveling up to 10,000 for $99.99. According to mobile intelligence firm Sensor Tower, TikTok users reportedly spent $3.5 million on in-app purchases during the month of October 2018, which is nearly four times what they did in October 2017.
Bloomberg reports in October said that ByteDance, though its 2018 target revenue which is $7 billion has still not been able to create profits. If reports are to be believed, rumours are that the company is planning to go public this year.
The different agencies like Digiday may start advertising on TikTok given its explosive popularity and the app offers splash ads that can cost up to about $150,000 for just one day and newsfeed ads for $4 per click.
Can you make money on TikTok?
I am sure if you are a TikTok fan, this question must have popped in your head someday or the other.
Brands athe ll over world especially those in U.S. are largely using influencers to get their message out on TikTok. A search for #ad returns more than 763 million results; the top videos promote Coca-Cola and Dunkin Donuts. According to Influencer Marketing Hub, businesses used to shell out around $20,000 per video ad on TikTok.
So the answer is Yes, you can make money from TikTok, in fact, if you are really good, you can earn your living from TikTok. So go ahead, create the best of yours!