It’s 9 pm., in the Caribbean, Do you know where your children are, They are probably on TikTok !
Here is the latest news about a 100 Billion Dollar company that you have never heard of, but your kids probably know the platform very well.
“TikTok’s rating drops after Internet war erupts between influencers of short video platform and YouTube.” That was the main story in the Economic Times, on May 22nd. 2020, yes! You read that right, The Economic Times.
Most of us “over-thirty-something” would be baffled by how these new internet-based companies that have literally no products, but are worth so much.
How Much Is TikTok Worth
A recent article in Business Insider says that the parent company of TikTok made $12 Billion in 2018
Hey! Welcome to the 21st century, those are the dynamics of the new era.
So – What’s All The Rave About TikTok
Here is what wikipedia says about TicTok
“TikTok is a video-sharing social networking service owned by ByteDance, a Chinese company founded in 2012 by Zhang Yiming. It is used to create short dance, lip-sync, comedy and talent videos. ByteDance first launched Douyin for the China market in September 2016.
The following videos are excerpts from recently reviewed TikTok content
Later, TikTok was launched in 2017 for iOS and Android in markets outside of China. It became available in the United States after merging with musical.ly on 2 August 2018. TikTok and Douyin are similar to each other, however they run on separate servers to comply with Chinese censorship restrictions.
The application allows users to create short music and lip-sync videos of 3 to 15 seconds and short looping videos of 3 to 60 seconds. The app is popular in Asia, the United States, and other parts of the world. TikTok and Douyin’s servers are each based in the markets where the apps are available.” -end quote-
TiKTok Usage In The Region & The Caribbean
Why do the kids love TikTok so much, you may ask. – well, approximately 3.4 million people in the Caribbean and Central America have the TikTok App installed on their phones.
A recent article in AdAge says that the usage of TikTok is far greater than expected. “U.S. CONSUMERS SPEND MORE TIME IN TIKTOK THAN AMAZON PRIME VIDEO:
Another statistics and usage tracking company ‘APP ANNIE’ says that more people use TikTok than you may think.
Interpretation: On the graph shown above, the global usage of TikTok has grown to 1.5 Billion hours as of December 2019 from 80 million hours in December of 2017.
New C.E.O From Disney
As the streaming-wars heat up with social-media-streaming-companies, TikTok announced that they will have a new boss at the helm, and on May 20th he joined the company. He is Kevin A. Mayer, the former head of Disneys streaming division, and is now CEO at TikTok.
These new type of companies have just come to the internet in the past 10 years, and many people will ask or say, – “I see no value in the content“. That may be true, but the thing about it is that many people love it and hundreds of millions of people flock to these type of Apps and platforms (Even from the Caribbean).
The strategists at these companies will capitalize on the AD revenue that will come in from so many people watching funny-and-meaningless content on their platform.
Written by digitalCaribbean.Live – digitalBelize.LIVE staff reporter: digitalCaribbean.LIVE@gmail.com