TikTok, the Chinese-owned social media app, has released a report titled “The TikTok Effect: Accelerating Southeast Asia’s Businesses, Education and Community,” revealing that Filipino content creators on the platform are earning significant incomes comparable to traditional jobs. Approximately 40 percent of Filipino respondents surveyed reported earning more than the minimum wage through TikTok. This is particularly significant considering that the minimum wage in the country is as high as P570 per day in Metro Manila.
TikTok has played a crucial role in helping entrepreneurs find new online revenue channels. These include selling products through TikTok Live and securing paid sponsorships from companies looking to promote their brands. One example is Nina Ellaine Dizon-Cabrera, the CEO of Filipino beauty brand Colourette, who has gained 1.9 million followers by posting videos that inspire women to embrace their unique beauty with confidence. Dizon-Cabrera emphasized that TikTok has significantly increased brand awareness and translated into sales for their products. During their last sale, they were able to receive 26,700 orders within four hours through TikTok.
The report also highlights the positive impact of TikTok on businesses across Southeast Asia. More than 80 percent of TikTok creators in the region reported an increase in revenue generation with the help of the platform. Even small and medium enterprises (SMEs) experienced a nearly 50 percent improvement in their revenues through TikTok’s promotion of their brands. The report notes that businesses leverage the platform’s tools and features to equip themselves with knowledge for brand growth. Approximately 80 percent of the respondents reported using TikTok’s advertisement manager feature to reach a wider audience.
TikTok’s CEO, Shou Zi Chew, declared that the platform is currently supporting 15 million SMEs in the region and plans to invest $12.2 million over the coming years to strengthen the sector’s e-commerce capabilities. The investment aims to help over 120,000 SMEs, including micro-entrepreneurs in rural areas, transition their businesses online and participate in the digital economy in Southeast Asia. This will be achieved through cash grants, digital skills training, and advertising credits.
Chew emphasized TikTok’s commitment to empowering SMEs, especially those new to social commerce, through their “Support Local” program. This program will involve partnerships with over 25 government agencies and non-profit organizations across Southeast Asia. The ultimate goal is to build a safe and entertaining space for individuals, communities, and businesses to grow and thrive.
With 325 million monthly active users worldwide, TikTok has become one of the world’s most popular social media platforms, particularly in Indonesia. Launched in 2016 by Chinese firm ByteDance Ltd., TikTok allows users to create, watch, and share 15-second videos using smartphones, placing it in the ranks of social media giants such as Facebook, Instagram, and Snapchat.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.