TikTok’s revenues jumped more than 500% last year in Europe

Image credit: Franck

How much does TikTok make? A new report shows us exactly how much the mobile app is generating in Europe following two years of explosive growth.

TikTok has grown to become the biggest non-Facebook app in the world in the last few years with over a billion (yes, a billion) users worldwide. It was a quickly growing app – famed for its accessible, short-form fun – even before 2020 but, possibly partly thanks to the pandemic forcing us to find new entertainment, its growth in the last two years is astonishing. 

A new report from their European subsidiary TikTok Information Technologies UK reveals that their European revenues grew by 545% in 2020 in Europe. This shows its explosion in a relatively new region, after it had already begun to gain powerful traction across Asia and in the U.S..

That growth led to a total of $170.8m coming through TikTok’s European arm in 2020. Despite the.. *ahem* controversy over the U.K.’s inclusion in Europe, they sit firmly in the data provided here. What will be even more revelatory will be seeing the numbers after 2021 following another year of exponential growth.

For the curious: The revenues for TikTok in Europe come mostly from advertising, $151.7 million to be precise – roughly 89%. The other $16.6 million came from live streaming on the platform whilst an extra $2.5 million was generated by other services.

TikTok said in their report: “We saw revenue increase significantly as our community grew, and we’ve continued to invest aggressively in building a solid foundation for the long-term success of the platform.”

Their success saw them add more than 1,000 employees for maintaining and growing their service in the region throughout 2020. They grew from 208 staff for the area going into 2020, to 1,294 by the end of the year. They refused to comment on their staff numbers in other parts of the world but the writing is on the wall, wherever you are in the world; TikTok is dominating.

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Writing about music, listening to music, and occasionally playing music.

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