TikTok: Revolutionizing Social Entertainment

By Kevin Mayer, CEO, TikTok

Innovation is a key factor in a competitive market. When a successful new product is introduced, it brings growth and dynamism to the industry. Unfortunately, it has been years since a company has reimagined what a social entertainment platform could be. However, TikTok has done just that. TikTok has brought a unique and intuitive interface, powerful tools for creators, and has fostered inclusive and meaningful communities. In short, TikTok has brought successful competition to the marketplace. This is why I joined the company as CEO earlier this year - to lead the next generation of creators in connecting with their energized audience and bringing fun entertainment to people's lives.

TikTok has become the platform where new music is discovered and becomes popular, such as Lil Nas X's "Old Town Road." During the pandemic, we saw the impact of Curtis Roach, whose "Bored in the House" became an anthem for finding positivity in tough times and helped people cope with lockdowns. We have also witnessed families coming together to perform multi-generational song and dance, which has warmed our hearts. With our success comes responsibility and accountability. The entire industry has faced scrutiny, and rightfully so. However, due to our Chinese origins, we have faced even more scrutiny. We accept this and embrace the challenge of providing transparency and accountability to give peace of mind. We believe it is essential to show users, advertisers, creators, and regulators that we are responsible and committed members of the American community who follow US laws.

Furthermore, we believe that the entire industry should be held to a high standard. We believe all companies should disclose their algorithms, moderation policies, and data flows to regulators. We are not waiting for regulation to come; instead, TikTok has taken the first step by launching a Transparency and Accountability Center for moderation and data practices. Experts can observe our moderation policies in real-time and examine the code that drives our algorithms. This puts us ahead of the industry, and we encourage others to follow suit. In addition to accountability, we believe all players in the industry should make a positive impact in the community. Our $200 million Creator Fund will support American creators on TikTok, and we expect this to grow to over$ 1 billion in the US in the next 3 years, and even more globally. We are also on track to create 10,000 new TikTok jobs across the US.

At TikTok, we welcome competition. We believe fair competition makes us all better. To those who wish to launch competitive products, we say bring it on. Even Facebook is launching another copycat product, Reels, after their previous copycat Lasso failed quickly. However, let's focus on fair and open competition that serves our consumers, rather than engaging in attacks disguised as patriotism by our competitor, namely Facebook, with the intention of eliminating our presence in the US.

Without TikTok, American advertisers would have limited choices. Competition would decrease, and there would be a lack of outlet for America's creative energy. We are not political; we do not accept political advertising and have no agenda. Our only objective is to remain a vibrant and dynamic platform for everyone to enjoy. The growth of healthy and successful platforms like TikTok benefits consumers, and we will fight to continue providing American creators, users, and brands with an entertaining outlet for years to come. We are willing to take all necessary steps to ensure the long-term availability and success of TikTok. Our commitment to ensuring TikTok remains a safe and secure platform for the millions of American families who find joy in it will not change. For those who doubt us, we are confident that we have the answers, and where we don't, we will improve. The responsibility is on us to step up, and we are doing so, taking the necessary bold steps. I accept and appreciate the challenge.

TikTok has become the latest target, but we are not the enemy. The bigger move is to use this moment to have deeper conversations about algorithms, transparency, and content moderation, and to establish stricter rules. We are taking the first step to address these concerns and call on the industry to follow our lead for the benefit of users and creators everywhere.