TikTok Doubles Revenue in Australia, Profits Triple in 2024

TikTok’s rise in Australia has reached new financial heights. According to a report released on May 2, 2025, the short-form video platform doubled its annual revenue in the Australian market, reaching AUD 679 million (approx. RMB 3.15 billion) by the end of 2024. This sharp increase comes alongside a tripling of net profit, which surged from AUD 11.4 million in 2023 to AUD 31.2 million.

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Much of TikTok Australia’s revenue comes from advertising, which alone contributed AUD 470 million (approx. RMB 2.18 billion). Another AUD 200 million was generated through business service agreements with its parent company ByteDance. The company also reported a higher tax contribution, paying AUD 11.1 million in income tax, more than double the previous year.

While social media platforms often keep regional financials opaque, TikTok’s disclosures offer a rare look at its commercial impact. The numbers suggest that TikTok’s Australian ad revenue now accounts for one-third of a major rival platform’s local ad income, which stands at AUD 1.46 billion.

Since entering the Australian market in 2017, TikTok has aggressively scaled its operations. The company now has over 100 open positions in the Sydney area alone—nearly matching the total local headcount of its key competitor.

TikTok’s Australian success reflects a broader global trend. ByteDance’s overseas revenues—driven largely by TikTok—grew 63% year-on-year, reaching USD 39 billion in 2024. That figure represents a quarter of the company’s total revenue, marking a historic high.

As TikTok continues to dominate youth attention and advertiser interest worldwide, Australia has emerged as a significant and growing hub in the app’s global revenue machine.