TikTok’s parent company ByteDance is been exploring ways to monetise its Indian business, which includes connecting with brands and influencers, to The Economic Times reported.
A team from ByteDance had in December last year held meetings with some digital agencies, marketers, as well as Indian influencers and creators on the short video-sharing app, the report said. The executives sought to understand the payment methods for influencers, along with the needs and concerns of brands.
TikTok is planning to launch new features to help brands gain more information on influencers’ user base, the report said.
Moneycontrol could not independently verify the story.
“They are in the process of launching a lot of new features through which they want to help creators make more money, so that they don’t feel like they are not getting their worth. If you are spending 10 hours a day creating content for the app, then you are not doing anything else, which means that you are not making money through any other means,” the article quotes a source as saying.
The new features and tools will eventually help brands improve their product placements and purchase details through pop-up formats, the report said.
In 2019, TikTok was the world’s second most downloaded app, overtaking Facebook. In India, the app has around 200 million users.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
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