With the arrival of the new U.S. President promising to "save TikTok" from forced sales or bans, confidence in its parent company, ByteDance, is on the rise. According to reports from the Wall Street Journal, the company now values itself at roughly $300 billion. This figure reflects a significant uptick in valuation, which surged from nearly $225 billion in October 2023 to $268 billion by December of the same year, and has now hit the impressive $300 billion mark.
In our analysis, we set out to determine which music companies could collectively match ByteDance's valuation. However, after tallying the worth of major players like Spotify, Universal Music Group (UMG), Warner Music Group (WMG), Live Nation, SiriusXM, and Tencent Music, we only reached a total of $211 billion. This starkly illustrates that ByteDance's value far eclipses that of many well-known music companies, underscoring TikTok's power and influence in today's music industry.
Additionally, earlier this month, reports emerged indicating that ByteDance generated $17 billion in revenue outside of China in the first half of 2024, marking an impressive 60% growth in its international turnover, largely thanks to TikTok's success. This reinforces the notion that the platform continues to have a significant impact on the company's financial performance and is likely a key factor in its soaring valuation.
