ByteDance’s China Business Is Slowing, Putting Spotlight on TikTok

ByteDance might be best known globally as the parent company of TikTok, but the bulk of its money comes from its home base of China, thanks to its Chinese video app Douyin. But previously unreported internal data shows that the tech giant’s red-hot pace of growth in China has slowed markedly, underscoring the importance of TikTok for the company’s future.

Last year, ByteDance’s revenue in China grew 25% year on year to $69 billion, according to three people with knowledge of the company’s detailed financial results. That compared with growth of 68% in 2021, 105% in 2020 and 150% in 2019, according to the people. ByteDance still managed to increase its total revenue 38% last year to $85 billion, because its overseas revenue—mainly from TikTok—more than doubled.