![]() Global App Spending on Christmas Grew 35 Percent in 2020: Sensor Towerĭouyin is the main revenue generator for ByteDance.WeChat, China’s instant messaging app (developed by Tencent), released an update note on Monday (29 November) night, announcing that the platform, “will begin to update the external link management measures from now on, and external links will be directly opened in the one-to-one chat scene” as a response to the Chinese government’s push for interoperability among tech firms in the country.Įxternal links shared from Alibaba’s e-commerce platform Taobao, and the Chinese version of TikTok (Douyin), are now accessible from WeChat without a “risk warning” page. It provides a glimpse of what TikTok could eventually become, as Douyin started selling merchandise in 2017 and now operates a growing e-commerce operation where hundreds of millions of users shop on a daily basis.īyteDance's expansion comes as China's financial regulators are tightening oversight over financial technology firms, particularly companies such as Ant Group.Ĭhina's third-party payment sector is dominated by Alipay and WeChat Pay, with the former taking 55.39 percent of the total market in the second quarter of last year, according to market researcher Analysys. To put TikTok’s $128 million app earnings into context, parent company ByteDance’s 2020 total revenues for all its apps were reportedly $37 billion, and Douyin competitor Kuaishou’s total revenue for the first 9 months of 2020 was 40.7 billion yuan ($6.3 billion ).Other players include JD.com's JD Pay, Baidu Wallet, and Meituan Pay.ĭoes WhatsApp's new privacy policy spell the end for your privacy? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below. Other video apps in Sensor Tower’s global top-10 list of non-gaming apps by revenue in January 2021 are: #7 iQIYI: Total appears to be about $1 million spread out over several apps.TikTok ad revenues grow as global expansion continues TikTok is planning an expansion to ecommerce this year by adding features such as a tool that allows popular users to share links to products as they livestream, and automatically earn commissions.Īdvertisers are rushing back to TikTok after the Biden government last week paused the previous administration’s lawsuit seeking to ban the app - one American ad industry executive told Reuters that “interest in TikTok has exploded.”.In China, Douyin already has this feature. The company is currently hiring a dozen ecommerce-related positions in London, New York, Los Angeles, and Silicon Valley, according to TikTok’s careers page.Īut TikTok faces trouble in other countries, even if the U.S. European consumer protection groups have filed a series of complaints against TikTok for breaching users’ copyrights, and failing to protect minors from “potentially harmful” content and hidden advertising.As the exclusive virtual “red packet” partner of Chinese Central Television’s Spring Festival Gala that reached 1.3 billion viewers (in Chinese) across the globe on February 11, Douyin further boosted its user numbers, especially for its online payment service, which rivals the dominating Alipay and WeChat Pay.Īnalytics cookies help us understand how our visitors interact with the website.The Kuaishou app, Douyin’s major competitor in the short-video-sharing market, which reached $160 million in valuation after its public offering in Hong Kong earlier this month, earned $10 million last month - less than one-tenth of Douyin’s January app revenues - according to Sensor Tower.After India banned TikTok and dozens of other Chinese apps, citing national security concerns, the company is reportedly exploring a sale of its India operations to domestic rival Glance.Īt home, TikTok’s Chinese version, Douyin, continues to outperform other video-sharing platforms in app revenue. It helps us understand the number of visitors, where the visitors are coming from, and the pages they navigate.
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