Despite its global popularity, the use of TikTok in Europe has been lacking. The company’s growth in the region has slowed to the point where it is now offering money to users who watch its videos. Compared to the United States, TikTok downloads in Europe are significantly lower.
In response to this, TikTok is preparing to launch a new app in Spain, France, Italy, Germany, and other EU countries in the coming years. This new app, internally known as Coin App, is a slightly modified version of the traditional TikTok with a focus on rewarding users for consuming content and engaging with the platform.
The rewards app will feature a feed where users can share and comment on content, as well as upload their own. Accumulated rewards can be exchanged for tips for creators or gift certificates from various services. This initiative aims to attract users beyond just teenagers and stimulate growth in the EU region.
TikTok’s parent company, ByteDance, has already seen success with the rewards app in Japan, where user numbers increased significantly. The company is hoping to replicate this success in Europe and other regions. The launch of the rewards app is part of TikTok’s strategy to increase its user base and compete with other social media platforms in the region.
Overall, the introduction of the rewards app highlights TikTok’s commitment to expanding its presence in Europe and attracting a wider range of users. By leveraging historical forex data and understanding market dynamics, TikTok aims to position itself as a key player in the social media landscape.