* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, October 24, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    ‘Chainsaw Man — The Movie: Reze Arc’ Review: Hit Manga Gets an Ultra-Violent, Surprisingly Emotional Big-Screen Adaptation – Yahoo

    Chainsaw Man – The Movie: Reze Arc Review: A Brutal and Unexpectedly Emotional Big-Screen Adaptation

    Reba McEntire Details Personal Relationship With Late Stepson Brandon Blackstock – KNDU

    Reba McEntire Shares Emotional Tribute to Her Late Stepson Brandon Blackstock

    Sacramento city leaders approve adding 2 entertainment zones in midtown – CBS News

    Sacramento City Leaders Approve Two Thrilling New Entertainment Zones in Midtown

    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

    Country music legend rushed to hospital year after heart surgery. Here’s what we know – PennLive.com

    Country Music Legend Rushed to Hospital One Year After Heart Surgery – What’s Happening Now?

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Project underway to upgrade technology on 911 towers in Kanawha County – WCHS

    Kanawha County Launches Major Upgrade to 911 Tower Technology

    Next steps: Technology opens new options for greater mobility – Missouri Independent

    Next Steps: How Technology is Opening Exciting New Doors to Greater Mobility

    Rydberg Technologies Inc. Announces Launch of Rydberg Photonics in Berlin – The Quantum Insider

    Rydberg Technologies Launches Exciting New Photonics Division in Berlin

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    ‘Chainsaw Man — The Movie: Reze Arc’ Review: Hit Manga Gets an Ultra-Violent, Surprisingly Emotional Big-Screen Adaptation – Yahoo

    Chainsaw Man – The Movie: Reze Arc Review: A Brutal and Unexpectedly Emotional Big-Screen Adaptation

    Reba McEntire Details Personal Relationship With Late Stepson Brandon Blackstock – KNDU

    Reba McEntire Shares Emotional Tribute to Her Late Stepson Brandon Blackstock

    Sacramento city leaders approve adding 2 entertainment zones in midtown – CBS News

    Sacramento City Leaders Approve Two Thrilling New Entertainment Zones in Midtown

    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

    Country music legend rushed to hospital year after heart surgery. Here’s what we know – PennLive.com

    Country Music Legend Rushed to Hospital One Year After Heart Surgery – What’s Happening Now?

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Project underway to upgrade technology on 911 towers in Kanawha County – WCHS

    Kanawha County Launches Major Upgrade to 911 Tower Technology

    Next steps: Technology opens new options for greater mobility – Missouri Independent

    Next Steps: How Technology is Opening Exciting New Doors to Greater Mobility

    Rydberg Technologies Inc. Announces Launch of Rydberg Photonics in Berlin – The Quantum Insider

    Rydberg Technologies Launches Exciting New Photonics Division in Berlin

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Science

TikTok local profits surge as potential ban looms

May 2, 2024
in Science
TikTok local profits surge as potential ban looms
Share on FacebookShare on Twitter

The Australian arm of controversial social media platform TikTok has posted a surge in revenue and profits over the past year, despite a looming ban in the US and questions over whether Australia should follow suit.

In its annual financial report filed with corporate regulator ASIC this week, TikTok Australia reported profit for the 2023 calendar year of $11.4 million – nearly double its $5.4 million profit a year earlier – on revenue of $375 million, which was more than twice as much as the previous year.

TikTok is under fire from US legislators amid claims it represents a national security risk.

TikTok is under fire from US legislators amid claims it represents a national security risk.Credit: Alamy

The social media company makes the vast bulk of its revenue from third-party advertising in its mobile app, and despite the increase in scrutiny across the Western world, has raked in advertising dollars at a record clip.

TikTok counts around 8.5 million Australian users, approximately a third of the population.

Its local headquarters is on Sydney’s Pitt Street, while its parent company and ultimate holding company, TikTok Ltd and ByteDance, are both located in the Cayman Islands, a tax haven. TikTok Australia paid $5.1 million in income tax in 2023, compared with $1.8 million a year earlier. Its accounts were audited by PwC Australia.

Loading

The profit surge comes as the Australian government weighs its options following a move by the US to ban the app over security concerns.

US President Joe Biden last month signed a law requiring TikTok parent company ByteDance to divest from the app by January 2025 or face an effective ban in the US.

ByteDance has said that it has no plans to pursue a sale, and that it will instead be challenging the US legislation on First Amendment grounds.

The financial documents make no mention of a potential ban in Australia. Prime Minister Anthony Albanese has said his government has no plans to move beyond existing rules that forbid ministers and government officials using TikTok on phones containing sensitive information.

Coalition cybersecurity and home affairs spokesman James Paterson, however, has labelled TikTok a “bad-faith actor” and urged the government to join other countries in trying to remove the influence of the Chinese Communist Party on its operations.

Senator James Paterson.

Senator James Paterson.Credit: Alex Ellinghausen

The company’s Australian general manager of advertising Brett Armstrong said last week there was no reason for the TikTok app to be banned locally.

He pointed to a report from Oxford Economics and paid for by TikTok that claimed TikTok had contributed more than $1 billion in value to Australia’s GDP.

“TikTok is a platform that is loved by over 8.5 million Australians and 350,000 Australian businesses, with a recent independent study by Oxford Economics finding that we contribute $1.1 billion and 13,000 jobs to the Australian economy,” Armstrong said in a statement.

“There is zero evidence suggesting that TikTok is in any way a national security risk, and we welcome the Prime Minister’s recent comments that his government has no plans to ban us.”

Loading

Armstrong is now one of TikTok’s most prominent Australian executives after the company opted against replacing Lee Hunter, TikTok’s Australian general manager, who departed earlier this year. Hunter, a former Google and YouTube executive, had served as the local public face of TikTok since May 2020.

The Office of the Australian Information Commissioner (OAIC) is also considering launching a full investigation into TikTok following revelations in this masthead that its “pixel”, which is used by advertisers, is harvesting users’ data including email addresses, mobile phone numbers and browsing histories without their knowledge or consent, in a potential breach of the nation’s privacy laws.

“The information-handling practices of social media companies is a matter of regulatory priority for the OAIC,” commissioner Angelene Falk told a Senate estimates hearing in March.

“Upon examination of TikTok’s response, a decision will need to be made as to whether further regulatory action is warranted, and also whether any other action is warranted in relation to other entities that might be utilising this pixel.”

TikTok has denied any wrongdoing, saying in a statement that tracking pixels were “an industry-wide tool used to improve the effectiveness of advertising services”.

The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.

Most Viewed in Technology

Loading

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : The Age – https://www.theage.com.au/technology/tiktok-local-profits-surge-as-potential-ban-looms-20240502-p5foa1.html?ref=rss&utm_medium=rss&utm_source=rss_technology

Tags: localscienceTikTok
Previous Post

Pet dogs and strays suffer in Asia heatwave

Next Post

Woman reportedly arrested in search for Australian brothers missing in Mexico

Ecology researchers work to update Columbia River fish advisories — but face new challenges in climate change – Longview Daily News

Ecology researchers work to update Columbia River fish advisories — but face new challenges in climate change – Longview Daily News

October 24, 2025

Unlock the Secrets to Growing a Giant Pumpkin Using Science

October 24, 2025
Rare dinosaur mummies help scientists recreate their prehistoric lives – ABC News – Breaking News, Latest News and Videos

Rare Dinosaur Mummies Unlock Secrets of Their Prehistoric Lives

October 24, 2025
Orange Cat Celebrates Halloween by Putting Candy Corn in Her Water Bowl – Yahoo

Orange Cat’s Hilarious Halloween Trick: Candy Corn in Her Water Bowl!

October 24, 2025
Project underway to upgrade technology on 911 towers in Kanawha County – WCHS

Kanawha County Launches Major Upgrade to 911 Tower Technology

October 24, 2025
Sports gambling indictment revives tough questions about integrity – Axios

Sports Gambling Indictment Sparks Renewed Debate Over Integrity

October 23, 2025
Former world chess champion Vladimir Kramnik investigated for bullying following death of grandmaster Daniel Naroditsky – CNN

Former World Chess Champion Vladimir Kramnik Under Investigation Amid Tragic Loss of Grandmaster Daniel Naroditsky

October 23, 2025
Trump approval on economy hits new low: Quinnipiac poll – The Hill

Trump’s Economic Approval Hits Historic Low in Shocking New Poll

October 23, 2025
‘Chainsaw Man — The Movie: Reze Arc’ Review: Hit Manga Gets an Ultra-Violent, Surprisingly Emotional Big-Screen Adaptation – Yahoo

Chainsaw Man – The Movie: Reze Arc Review: A Brutal and Unexpectedly Emotional Big-Screen Adaptation

October 23, 2025
WHO launches new country guidance for health emergency coordination – World Health Organization (WHO)

WHO Launches Bold New Global Guidelines to Revolutionize Health Emergency Coordination

October 23, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (883)
  • Economy (904)
  • Entertainment (21,775)
  • General (17,768)
  • Health (9,945)
  • Lifestyle (917)
  • News (22,149)
  • People (905)
  • Politics (914)
  • Science (16,115)
  • Sports (21,404)
  • Technology (15,884)
  • World (887)

Recent News

Ecology researchers work to update Columbia River fish advisories — but face new challenges in climate change – Longview Daily News

Ecology researchers work to update Columbia River fish advisories — but face new challenges in climate change – Longview Daily News

October 24, 2025

Unlock the Secrets to Growing a Giant Pumpkin Using Science

October 24, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version