$1.7 Billion in a Quarter: TikTok Live’s Soaring Revenue Amid Exploitation Lawsuit and U.S Ban Threats
Washington — TikTok reported generating a staggering $1.7 billion in global revenues from its live-streaming service, TikTok Live, in just the third quarter of 2023. Over $400 million of these earnings originated from the U.S., detailed in a recent lawsuit revealed in the capital. The suit, initiated in October by District of Columbia Attorney General Brian Schwalb, accuses the platform of enabling both sexual and financial exploitation of minors through its live features, which permit users to broadcast in real time to a global audience potentially numbering in the billions. According to projections within the … Read more