Actionable Trading Ideas, South Africa
Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals.
TikTok Considers Launching Reality TV Show - Benzinga
TikTok is in discussions about creating a reality TV show based on its own app to reach wider audiences. What Happened China-based ByteDance, ...
TikTok is in discussions about creating a reality TV show based on its own app to reach wider audiences. What Happened China-based ByteDance, which owns TikTok, has been having internal discussions about producing a TV show. ByteDance has also been approached by independent production companies. No firm decision has yet been made on the talent to be showcased, or who will host the show, according to anonymous sources cited by Bloomberg. “Beat Shazam,” hosted by Jamie Foxx, has been cited as an example by producers. The contest has enjoyed three seasons on Fox Corp. (NASDAQ: FOX) TV and has been renewed for the fourth. In this show, the team that scores the highest must then defeat the “Shazam” app, owned by Apple Inc. (NASDAQ: AAPL) Why It Matters TikTok is massively popular with teenagers and has been downloaded more than 2 billion times over the past three years. The TV show has the potential to expand the app’s popularity among other age groups, Bloomberg reports.The TV Show would be music-oriented as TikTok videos are set around a certain piece of music or song. Celebrity users of the app include Jennifer Lopez, Kevin Hart, and John Krasinski. TikTok’s usage has skyrocketed in the past month due to the pandemic, making it the most popular app in the world outside of China. Nicholas Colas, co-founder of DataTrek Research, states that TikTok has yet to prove it can be profitable or relevant outside of its “core global teen user group.” ByteDance was valued at $75 billion in 2018, even before it exploded in popularity. Apptopia, a global provider of app intelligence, has reported that in-app purchase revenue rose a whopping 310% in the fourth quarter. ByteDance is rumored to be considering an IPO in 2020. © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.