Short-form content is DEFINITELY the future. It’s no wonder that more and more companies are investing in this format, and reaping the benefits. Advertisers love it too, which is why short-video app Triller has filed to go public via a direct listing on the New York Stock Exchange.
The company has raised more than $380 million in capital since its launch and claims to have registered more than 550 million user accounts.
If you’re interested in the numbers, well, Triller’s revenues grew from $3.7 million in 2020 to $26.4 million in 2021 and $47.7 million in 2022. However, the company has also lost money each year it has operated, with losses of $77.2 million in 2020, $773.6 million in 2021, and $195.6 million in 2022.
The company has also been involved in a number of legal disputes, including lawsuits from Sony Music, Universal Music Group, and rappers Timbaland and Swizz Beats. In July, Triller agreed to a settlement with Sony Music in which it agreed to pay the company $4.6 million.
Despite its financial losses and legal issues, Triller is still seen as a potential competitor to TikTok. The company is similar to TikTok in many ways, including things like having the ability to create and share short-form videos, duets, and challenges. Triller also has a number of exclusive partnerships, including with the Bare Knuckle Fighting Club and the Verzuz series.
It remains to be seen whether Triller will be able to turn a profit and become a major player in the short-form video market. However, the company’s decision to go public does show that it is particularly confident in its ability to grow in this highly competitive market.
This is all we know for now, but rest assured that we will keep you updated as new information becomes available.