TikTok Estimates Loss Of $6 Billion; Here’s How Much Brands Paid & Influencers Made
Bengaluru: As TikTok influencers Jannat Zubair Rahmani, Awez Darbar, Sayyed Arishfa Khan and others move to Instagram, owner Chinese tech giant ByteDance Ltd is anticipating a loss of over USD 6 billion. The trio has gained around 2 lakh followers on Instagram after the ban on TikTok.
Like TV and other digital platforms, there are talent management companies that aided TikTok stars. Pratik Gaur, who runs Celebistaan, told The Indian Express that there were over 25,000 creators with more than 1 million followers on TikTok.
Top creators like Aly, Nisha Guragain, Faisu, Aashika Bhatia, Jannat Zubair and others charge about Rs 2.5-3 lakh per video, and earn about Rs 50 lakh a month, according to Gaur.
India recently banned 59 Chinese apps including TikTok, UC Browser, CamScanner after the escalation of tension between the two countries in the border region around Ladakh.
TikTok, which had recently introduced its TikTok for Business app, is expected to face a huge blow to its global expansion.
Big brands like Flipkart, Pepsi, Puma, Clean and Clear, Myntra and others used to run their campaign on the app through hashtag promotions, influencer outreach and home screen ads costing between Rs 5 lakh and Rs 50 lakh.
These ads were reportedly more economical than YouTube and Instagram, and had deeper reach and engagement in smaller towns and rural areas where TikTok was more popular.
Two other ByteDance apps that were banned were Vigo Video and Helo, a growing social media app.
TikTok had been downloaded 611 million times in India this year, a number that is 30.3 per cent of its total downloads worldwide.
TikTok has said it would fully comply with the Indian government’s security concerns. ByteDance has over 2,000 full-time local employees in India.