As TikTok’s destiny stays in flux, its smaller rival Likee has been making waves world wide, garnering 150 million month-to-month energetic customers as of this June.
That’s based on the earnings report of Chinese language web firm Joyy, the proprietor of Likee. For comparability, TikTok recorded about 200 million day by day energetic customers in early 2020, an investor with information advised TechCrunch. Which means its MAU might be a lot larger, and TikTok has seen explosive progress because the COVID-19 outbreak that saved individuals residence. Whilst a possible ban and compelled sale loom within the U.S., TikTok’s progress has solely slid barely.
Likee has one thing totally different to supply, because it permits influencers to simply earn cash from digital presents they obtain from followers, The Ken acutely observed (paywalled). TikTok, however, prioritizes content material customers.
“I do assume creators need to be paid and monetization helps,” Adam Blacker, a vice chairman at app analytics agency Apptopia, advised TechCrunch.
Like TikTok, Likee shouldn’t be immune from scrutiny over apps with Chinese language roots. India was Likee’s greatest market earlier than the app was banned from the nation alongside TikTok and dozens of different Chinese language-owned apps. Likee’s sister app Bigo Stay additionally acquired shut down by the Indian authorities.
Nonetheless, Joyy stated it has shifted its focus from India to different markets by decreasing gross sales and advertising and marketing expenditure within the area, so although the regional ban could have a short-term influence on person dimension, it “doesn’t influence the general technique and monetization for Likee,” said Joyy’s chief monetary officer Bing Jin on the agency’s Q2 analyst name.
In its second-largest market, the U.S., Likee is certainly one of TikTok’s fastest-growing rivals. From early July to early August, Likee amassed 7.25 million downloads, dwarfing Hollywood-backed Triller, TikTok’s previous rival Dubsmash and Vine’s sequel Byte, Apptopia found.
Likee can be rising quickly in Russia and Indonesia. In anticipation of ongoing geopolitical dangers, Likee is “cooperating with varied native governments” and “enhancing our native operations,” stated Jin.
Pioneer in reside streaming
Joyy, a Nasdaq-listed firm, stays little-known exterior its residence market. Based in 2005, Joyy popularized the phenomenon of digital gifting in reside streaming by its flagship website YY. Audiences can present influencers digital “flowers” and the like, which they’ll then convert into money. YY’s monetization mannequin was so profitable that it spawned live-streaming rivals of all kinds. When the market saturated, Joyy turned abroad.
In 2016, Joyy’s founder and chief government officer Li Xueling began Bigo in Singapore as a separate entity so it could not be topic to the identical investor strain as a public firm. Stay-streaming app Bigo Stay debuted in hope of replicating YY’s success, and when quick movies grew to become all the craze, Bigo rolled out Likee. Between June 2019 and June 2020, Likee gained 70 million MAUs world wide.
As of June, Joyy as an entire reached 457 million cellular MAUs, with as many as 91% of them coming from non-China markets. As Bigo grew to become a income generator, Joyy consolidated it into the steadiness sheet after a full acquisition final yr.
Bigo’s wholesome abroad progress ought to spell confidence for Joyy. However when Li was asked by local media whether or not he needed to combat with TikTok for dominance, he stated his firm “gained’t have the ability to beat it.” He went on to humbly comment that Zhang Yiming, the founding father of TikTok dad or mum ByteDance, “is probably the most far-sighted particular person I’ve ever seen.”