Six of the UK’s most popular TikTok content creators are moving forward with plans to live under one roof to meet increased demand from locked out teens, despite criticism of the timing.
The Bytesquad collective planned the move ahead of the coronavirus pandemic and completed it before the UK lockdown on March 23. It marks the creation of the UK’s first “TikTok House”, a phenomenon already established in the US.
Videographers continue despite criticism that it comes during a nationwide lockdown aimed at curbing the spread of the coronavirus. An industry expert also suggested that the pandemic would make the project less lucrative than it could have been.
Content creators TikTok are profiting from an increase in viewership during the pandemic as people are confined to their homes. The team inside the UK’s first ‘TikTok House’ is over 14 million people. Their videos currently reach over 73 million people per week.
TikTok competes with other short video apps like Byte and Vine, but also with other social media apps like Instagram and WhatsApp.
TokTok in profit
Demand for content on TikTok has reached such levels since the coronavirus outbreak that ByteDance, the Chinese startup behind the popular TikTok short video app, is looking to hire 10,000 new employees. It’s one of the few tech companies in the world right now hiring rather than firing workers.
The Beijing-based company has profited from the coronavirus pandemic as many of its 1.5 billion monthly users are trapped at home with extra time to devote to its stable of more than a dozen apps.
Last year was also a good year for ByteDance, which reported revenues of 50 to 60 billion yuan (about $ 7 to $ 8.5 billion) in the first half of 2019, mainly thanks to advertising in China, according to Reuters. The startup became profitable in June 2019 and is expected to continue making profits in the second half of last year.
Despite a global recession on the horizon, ByteDance – with a workforce of 50,000 in more than 30 countries – remains in expansion mode, announcing that it will hire 10,000 more interns and full-time employees in the coming months.