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Bloomberg
Douyin, the Chinese-market version of ByteDance Ltd’s TikTok video-sharing app, surpassed 600 million daily active users in August, rising from 400 million at the start of the year.
The service has produced 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 a push to double that figure over the next 12 months, said ByteDance China CEO Kelly Zhang. Speaking at the Douyin Creator Conference Tuesday, Zhang detailed the growth of Douyin’s audience and the efforts to bolster and diversify income streams for creators.
ByteDance has seen its international hit 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. That makes Douyin, already an important growth driver, even more critical to the parent company’s fortunes.