TikTok reports $1bn turnover across international markets

Chinese-owned platform popular among teens and young adults saw its turnover rise by 477% last year

TikTok has reported a five-fold surge in turnover to $1bn (875m) across its operations in international markets including the UK and Europe last year, as trend-setting teens and young adults continue to make the video-sharing platform the hottest social app of the moment.

Financial filings for Chinese-owned TikTok UK, which also covers operations in countries such as Brazil, Mexico, South Africa and Colombia, shows that its popularity with the public is rapidly translating into an advertising and e-commerce boom.