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Douyin, the Chinese market version of ByteDance Ltd.’s video-sharing app TikTok, surpassed 600 million daily active users in August, up from 400 million at the beginning of the year.
The service has generated 41.7 billion yuan ($ 6.1 billion) in revenue for more than 22 million creators over the past year, and the company intends to spend $ 1.5 billion in an effort to double that figure over the next 12 months, ByteDance China CEO said. Kelly Zhang. Speaking at the Douyin Creators Conference on Tuesday, Ms. Zhang detailed the growth of Douyin’s audience and efforts to boost and diversify sources of income for creators.
ByteDance has seen its international success TikTok banned in India and under existential threat in the US, where the company is negotiating a deal to appease authorities in partnership with Oracle Corp. That makes Douyin, already a major driver growth, is even more critical to the womb. fortunes of the company. ByteDance previously revealed that its global app stable has 1.5 billion monthly active users.
Started in 2016, Douyin has surpassed older rivals like Kuaishou, backed by Tencent Holdings Ltd., to become China’s largest short video exchange platform, backed by ByteDance’s powerful algorithms. While advertising remains a major source of revenue for Douyin, as well as ByteDance as a whole, Douyin has introduced new features in recent years including live streaming and e-commerce that allow users to spend more time and money within of the application.
Reputable Douyin creators can set up their own in-app stores, featured prominently on their profile pages and linked during their online sessions, selling everything from lipstick to smartphones. This transformation also offers a potential roadmap for TikTok. – Bloomberg
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