TikTok Launches New Rewards App to Boost Growth

TikTok’s growth in Europe has slowed down so much that it’s rolling out a new app that gives people financial incentives to watch its videos.

The Chinese-owned company is introducing a new app in Spain, France and other countries that will encourage users to watch videos, invite friends to sign up and perform other actions by awarding them points they can redeem as gift cards or digital tips to give creators, according to a written description circulated internally and viewed by The Information. The app, called Coin App within the company and TikTok Lite to the public, is designed to help TikTok boost growth among people aged 18 and older.