TikTok Records Revenue Record Of IDR 251.2 Trillion In The United States, Despite Potentially Prohibited

JAKARTA - According to a Financial Times report on Friday, 15 Merat, ByteDance's TikTok from China recorded revenues of around US$16 billion (Rp251.2 trillion) last year in the United States, where viral video apps that have managed to lure Gen Z users are at risk of being banned.

The short video app used by about 170 million Americans reached the highest sales in history in the United States by 2023, according to the report.

Global ByteDance revenue of 120 billion US dollars (IDR 1,884.3 trillion) in 2023 rose by about 40% from the previous year, driven by rapid growth in TikTok. China accounted for most of the company's sales. This was reported by the FT citing five people familiar with the matter.

ByteDance, dubbed the "App plant" for frequently releasing new mobile apps, is on track to surpass Meta Platforms, the world's largest social media company according to sales, the report added.

Meta's revenue globally in 2023 increased 16% to 134.90 billion US dollars (Rp2,118.1 trillion).

Thursday, March 14, the US House of Representatives unanimously approved a bill that would give ByteDance about six months to release US assets TikTok, or face bans.

TikTok is the most downloaded social media app in the United States in 2023, with 47 million downloads. Facebook and Instagram are in second and third place, with 35 million and 34 million downloads, respectively, according to market intelligence firm Sensor Tower.