TikTok Gives Rare Look Into U.K. Business With $119 Million Loss
- Chinese owner ByteDance has not disclosed global figures
- Video-sharing app has been rapidly expanding in U.K.
The TikTok app in the app store on a smartphone, in London.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
TikTok’s U.K. business recorded a $119.5 million loss over 2019, driven by advertising and marketing expenses, giving a rare insight into how rapidly the video-sharing app is expanding.
ByteDance Ltd., its Chinese parent company, has not disclosed global revenue figures, but U.K. sales amounted to $20 million over 2019, according to the latest company filings made this week. Sales and marketing expenses came to $109 million over the year. The unit hadn’t begun posting revenue in 2018.