27.04.2023, 08:24
The profit of the Russian Tik Tok has grown 10 times over the year
Source: OREANDA-NEWS
OREANDA-NEWS In 2022, despite the suspension of monetization in Russia, the profit of the Russian TikTok (TikTok Rus LLC) it grew 9.8 times compared to a year earlier and amounted to 530.3 million rubles. This follows from the company's accounting statements, which are cited by RBC.
The revenue of the Russian TikTok for the year fell by 29%, amounting to 2.36 billion rubles. At the same time, 1.4 billion rubles . advertising brought in revenue (2.5 times less than a year earlier), the rest is marketing and consulting services for the parent company TikTok.
As specified in the reports, due to the lack of targeted advertising and, as a result, a decrease in revenue, the company had to terminate employment relations with the majority of employees in Russia. Thus, at the end of 2022, 67 people worked in the Russian TikTok instead of 354 people a year earlier. The company gave 112.5 million rubles for payments due to layoffs of employees.
TikTok suspended monetization in Russia on March 6, 2022 due to the start of a military operation in Ukraine. It also affected the placement of targeted advertising aimed at Russian users. In addition, the platform banned users from Russia from downloading content and broadcasting.
The revenue of the Russian TikTok for the year fell by 29%, amounting to 2.36 billion rubles. At the same time, 1.4 billion rubles . advertising brought in revenue (2.5 times less than a year earlier), the rest is marketing and consulting services for the parent company TikTok.
As specified in the reports, due to the lack of targeted advertising and, as a result, a decrease in revenue, the company had to terminate employment relations with the majority of employees in Russia. Thus, at the end of 2022, 67 people worked in the Russian TikTok instead of 354 people a year earlier. The company gave 112.5 million rubles for payments due to layoffs of employees.
TikTok suspended monetization in Russia on March 6, 2022 due to the start of a military operation in Ukraine. It also affected the placement of targeted advertising aimed at Russian users. In addition, the platform banned users from Russia from downloading content and broadcasting.
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