Market News
Recent Developments
New product launches
- In September 2023, TikTok launched its Creator Marketplace in Southeast Asia. The Marketplace allows brands to connect with creators and collaborate on sponsored content campaigns.
- In August 2023, YouTube announced that it is expanding its Shorts Fund to more countries in Asia and Oceana. The Shorts Fund is a $100 million fund that YouTube is using to reward creators for creating engaging short-form video content.
Acquisition and partnerships
- In August 2023, ByteDance, the parent company of TikTok, acquired PICO Interactive, a Chinese VR headset maker. This acquisition is seen as a move by ByteDance to expand its presence in the metaverse and create new opportunities for creators.
- In June 2023, YouTube acquired Shorts, a short-form video platform from India. This acquisition is seen as a move by YouTube to compete with TikTok in the short-form video market.