TikTok's got a massive army of fans. Now it needs to monetise them
The social media app has roped in veteran Disney dealmaker, Kevin Mayer, to help bring in the big bucks
From Will Smith to Arnold Schwarzenegger, it has become the social media app of choice for celebrities in lockdown. Many businesses have been struggling to simply survive, but in recent weeks the video-sharing platform TikTok has experienced a surge in global popularity that has enriched its Chinese owner, ByteDance, and left rivals including Facebook and Snapchat looking anxiously over their shoulder.
Last month, the app, which is used for sharing short videos of users dancing or lip-syncing to songs, crossed the 2-billion total download mark — just five months after hitting 1.5-billion downloads...