TikTok readies key push into mobile games - report
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TikTok (BDNCE) is readying a major expansion into gaming, a significant effort to stretch beyond the short-form video format that it's been dominating over the past year.
The social-video company is planning a dedicated tab on its platform, the Financial Times reported - offering TikTok's large audiences a one-click entry into a number of mobile games.
Those games are likely to focus on free-to-play/"freemium" titles where ads can be served to visitors and additional content can be bought, according to the report.
TikTok has had a toe in the gaming space for a few years, with some minor offerings to Chinese users that later expanded (lightly) to other regions.
The new push follows last month's promotion of Assaf Sagy, who had previously worked at Intel and Snap, to serve as TikTok's head of global gaming.
TikTok (BDNCE) is expected to confirm the new effort at a "TikTok Made Me Play It" event set for Nov. 2, which will feature speakers from companies including Electronic Arts (EA), 2K (TTWO), and NetEase (NTES).
And it comes in a shifting landscape for online entertainment companies in the space. Facebook (META) and Snap (SNAP) have de-emphasized and pulled back from videogaming, moves coinciding with tremendous stock-price declines. Netflix (NFLX), though, continues to pour money and emphasis into its own gaming efforts.