What started as an app primarily used for lip-syncing in its earlier days as Musical.ly has surged exponentially in terms of worldwide popularity and user base. Today, some of the most viral videos and trends you find on other platforms like Instagram and Facebook can be traced back to Tiktok, the social media platform is that big!
While people worldwide started using TikTok to create and share short videos for comedy and entertainment purposes at first, it eventually evolved to be an infotainment format. From beauty, fashion to cooking, and personal finance, nowadays, it covers a diverse range of informational videos to promote and sell products as well. And this is where TikTok gets most of its money from – advertisement.
TikTok business model is based on a variety of advertising and promotional formats. Before we deep dive into TikTok’s key revenue streams in 2023, let’s take a quick look at TikTok’s market overview and some remarkable numbers first.
TikTok’s business model is similar to other social media platforms like Facebook and Instagram It generates revenue through advertising and partnerships with brands and creators. However, its focus on short-form videos and its growing user base make it a unique and attractive platform for advertisers and businesses.
The platform is constantly experimenting with new ad formats and features to improve the user experience and increase revenue. However, its business model won’t help you alone to launch a competitive app. For that, you need a reliable app development company – like Code Brew.
A decade of brewing innovative businesses, a team of 300+ expert app developers, and 7000+ happy clients, Code Brew is a top app development company Dubai.May 9, 2023