TikTok’s Australian revenue hits AU$474 million as payments climb
TikTok's Australian revenue has increased significantly, reaching AU$474 million in 2023, up 40% from the previous year. Concurrently, payments to Cayman-Islands-owned companies associated with TikTok also surged by 40% to AU$684 million for the same period. This occurs as the Australian government considers new regulations for social media platforms.
Key Takeaways
- Australian revenue rose to AU$474 million in 2023, a 40% increase from the previous year.
- Payments to Cayman-Islands-owned companies associated with TikTok increased 40% to AU$684 million.
- The revenue and payment figures come as the Albanese government considers new rules for social media platforms.
Why It Matters
TikTok’s Australian business is still growing quickly even as Canberra moves toward tighter social media regulation. The two 40% increases — AU$474 million in local revenue and AU$684 million in payments to Cayman-Islands-owned companies — show the scale of its Australia operation and related cash flows. For the broader ecosystem, the timing ties platform economics directly to policy pressure in one of TikTok’s key markets. What to watch next is whether Australia’s proposed rules materially change how social platforms report revenue or structure payments in the country.
Read full article at smh.com.au
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