TikTok Contributed the Most to ByteDance's Revenue in October 2023

A Statista-compiled AppMagic report shows that TikTok is ByteDance's highest-earning application.

The digital content platform recorded revenue of US$7.37 billion, or Rp113.77 trillion (assuming an exchange rate of Rp15,423 per US$), as of October 2023.

The second-largest contributor was Vigo Video, with US$63.63 million or Rp981.40 billion. Third was Toutiao, with US$45.37 million or Rp699.77 billion.

The application with the lowest revenue contribution on this list was BuzzVideo, with US$7.45 million or Rp114.90 billion. In general, ByteDance has 40 applications operating in 60 countries worldwide.

(Read also: [List of 10 Global Unicorn Giants October 2023, TikTok's Parent Company Reigns Supreme](https://databoks.katadata.co.id/datapublish/2023/11/08/daftar-10-raksasa-unicorn-global-oktober-2023-induk-tiktok-rajanya))

ByteDance Mass Layoffs

Citing *Katadata*, ByteDance is conducting layoffs. Its gaming business, including Mobile Legends, is potentially up for sale.

The Chinese tech giant is restructuring its gaming business after a review. However, ByteDance did not detail the adjustments made.

"We regularly review our businesses and make adjustments to focus on long-term strategic growth areas," a ByteDance spokesperson said, as quoted by Reuters on Monday, November 27, 2023.

Four Reuters sources said ByteDance plans to discontinue the Nuverse gaming brand and withdraw from mainstream video games.

Sources also stated that ByteDance told employees last Monday to stop working on unreleased game projects by December.

The company is reportedly seeking ways to divest itself from already-launched games. This move by TikTok's parent company could impact hundreds of employees. Some employees learned of this at the weekend.

(Read also: [Indonesia Has the Second-Largest Number of TikTok Users in the World](https://databoks.katadata.co.id/datapublish/2023/11/22/indonesia-punya-pengguna-tiktok-terbanyak-ke-2-di-dunia))