TikTok has been the most downloaded app for the better part of two years. And in late September, the company said that it now has more than 1 billion monthly active global users.
Moreover, it has supercharged the so-called creator economy, a broad swath of entrepreneurs, influencers, and side hustlers trying to convert their looks, humor, wisdom, connections, inhibitions, insights, and dance moves into riches and stardom.
The social media giants, including Facebook, Google, Snapchat, Twitch, and even Pinterest, are all vying for their share of a market now valued at north of $104 billion.
Courtesy: Fortune
Read More: https://fortune.com/longform/tiktok-economy-monetization-business-social-media-platforms-creators/