The Chinese social media platform TikTok has exploded since it emerged on the scene in late 2016. After it became available worldwide in 2018, the video-sharing network rapidly gained popularity. In 2019, TikTok brought in between $200-300 million USD globally and by October 2020, the app surpassed two billion mobile downloads—making it the seventh most downloaded app of the decade. In 2020, the company aims to generate $500 million in revenue from the U.S. alone.
While the platform started with, and still largely consists of, lip-synced songs, dances, memes and funny videos, TikTok has launched numerous viral trends and Internet music celebrities, as well as received blowback for other uses such as conspiracy theories and political shenanigans.
Its incredible momentum, however, presents a host of opportunities for digital publishers, including strategies to increase and engage audiences as well as monetise and earn revenue through TikTok.