TikTok was 12% of ByteDance’s $80bn revenues in 2022

By Stuart Dredge, Musically.com, April 3, 2023

With licensing negotiations ongoing between music rightsholders and TikTok – let’s diplomatically call them ‘hardball’ – there is bound to be keen interest from our industry in the financial health of the app and its parent company ByteDance.

Cue timely reports from The Information and Bloomberg shedding new light on that. Both cite the same figure for ByteDance’s revenues in 2022: more than $80bn, which was a year-on-year increase of more than 30%.

That’s impressive growth compared to some of the western Big Tech companies. Meta’s annual revenues fell by 1% last year, for example, while Alphabet’s grew by 10%. However, ByteDance’s 30% growth in 2022 is a deceleration from the near-80% increase it enjoyed in 2021.

Read more about this topic on Musically's site where it was initially published.