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ShowninFigure7, revenuesoftheshortvideoinindustryinChinaarecategorizedintofourmain groups based on the sources: 1. Revenue from advertisement 2. Revenue from paid content 3. Revenue from copyright distribution 4. Revenue from other sources It is not hard to see that the proportion of revenue from advertisements decreased from 73.4% to 50.9% in 2016, and this percentage is expected to stay rather static in the following years. Revenue from paid content is, however, gaining its space – it has been increasing over the years and the trend is expected to continue in the future. A very large percentage of Douyin’s revenue comes from advertisements. If we go back to the macro market environment, Figure 5 shows that the estimated growth of market size in the upcoming years – we can see from the graph that the growth is slowing down, with a year-on-year growth of 99.7% in 2019 and 63.1% in 2020. Combining messages behind these two figures, we can conclude that revenue from advertisement is expected to grow at the same pace as the entire short video industry in the following years. So far, there exist no premium account or feature in Douyin, the revenue from paid content solely lies on in-app purchase of virtual gifts from viewers and followers to live streamers. Living streaming is a feature in Douyin that is still in the development stage. It faces intense competitions from existing market-leading live-streaming apps such as Douyu, Inke, and Yizhibo – Douyin’s live-streaming feature is yet to be mature. As the majority of the content on Douyin are UGC and is available to be shared freely to other platforms, the company currently has no revenue from copyright distribution. This is expected to continue in the near future as ByteDance does not own any of the contents. Thus, instead of sharing the market dividend from the industry growth, it is thought that Douyin’s future growth would be more dependent on the development of company- and app-specific parameters. - 35 -PDF Image | Analysis of ByteDance with a close look on Douyin TikTok
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