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Thursday, December 2, 2021

TikTok’s next big move?Become Facebook




ByteDance’s approach may be to follow in Facebook’s footsteps. After establishing a key foundation through its core applications in the early 2000s, the technology giant, now known as Meta, expanded its ecosystem by acquiring WhatsApp and Instagram and becoming a single sign-on source for other services. It penetrates all aspects of users’ online lives. “Bytedance’s overseas layout is not limited to the short video industry, but also includes some upstream news and music platforms,” ​​said Ashley Dudarenok, a Chinese marketing expert and founder of digital marketing agency Alarice and ChoZan. “ByteDance has great ambitions for overseas markets, and the competition with Facebook is more obvious.”

Arnold Ma, CEO of Qumin, a digital marketing agency focused on China, said that Bytedance has achieved a certain degree of growth in China in this way. “For users, it’s basically a fully integrated content journey, whether they just want to discover content or find information in an encyclopedia,” he said. “They split more and are creating a more diverse and segmented business model.”

“Globalization has always been their ambition,” said Ma Rui, founder of Tech Buzz China, a community of Chinese technology investors and operators. “Many Chinese entrepreneurs [Zhang] Yiming’s generation took it as their mission to build a global company. “On a global scale, Chinese entrepreneurs usually mean that more than 50% of their income comes from outside China. At present, Bytedance’s Chinese apps — mainly Douyin and Toutiao — a news aggregation application — —Accounting for the majority of its revenue. But this may change because Bytedance is trying to more clearly profit from its multi-billion TikTok user base by introducing e-commerce and increasing application advertising revenue.

If you look closely, you can already see the seeds of TikTok’s success outside China and the development of a broader business plan around ByteDance and its core products. Although on the surface, this is actually not TikTok or Douyin, but an algorithm engine that supports all of its applications. “Due to the nature of the company-that is, it is a company with artificial intelligence at its core-they can do a lot of things,” Ouwehand said.

When ByteDance first launched TikTok outside of China, it tried to establish a base for the app in Southeast Asian countries such as Indonesia, Japan, and Thailand. The company subsequently moved to developing countries including India. Before the Indian government banned TikTok in June 2020 as part of a geopolitical dispute, the country had more than 200 million monthly active users, and to Indonesia, TikTok was in the middle of the year. Has 44 million users. -In 2020, according to internal data.Brazil is also a major market for video sharing applications, some Third-party estimates Make it TikTok’s second largest global market. It is no coincidence that the three test platforms of ByteDance’s Spotify-like music streaming service Resso launched in 2020 are Indonesia, India and Brazil. Resso now has More than 40 million users Split between the three countries and focus on greater expansion.




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