According to reports, young people are now equally splitting their time between popular video-sharing platforms YouTube and TikTok. Since starting to watch TikTok, consumers ages 4-15 have increased their social app use by 100 percent in 2019 and 200 percent this year. Parent company ByteDance is making so much money on TikTok’s advertising and in-app purchases that it may be valued between $150 billion and $180 billion in an IPO. ByteDance just hired former Disney exec Kevin Mayer as TikTok’s new CEO, giving the company an American face. Continue reading TikTok Becomes a Revenue Giant as App Spawns Subgenres