Douyin, the Chinese version of TikTok, is aiming to reach 680 million daily active users this year, Bloomberg reported on April 16.
TikTok owner ByteDance is aiming for a 42 percent increase in ad sales this year, to RMB 260 billion ($39.86 billion), the report said.
ByteDance's ad revenue in January, February and March of this year was RMB 19 billion, RMB 14 billion and RMB 18.5 billion, respectively.
Douyin generated more than RMB 31 billion in ad revenue in the first quarter, and news aggregator Toutiao generated more than RMB 9.1 billion in ad revenue in the first quarter.
ByteDance expects Toutiao to generate RMB 45 billion in ad revenue this year, and Douyin RMB 150 billion.
Douyin's two clients had more than 610 million monthly active users in March, with the main client at more than 530 million and the speed version at about 70 million.
User usage was approximately 100 minutes for the main client and 70-75 minutes for the Extreme version.
ByteDance expects Douyin to reach a target of 120 minutes for the main client and 90 minutes for the speed version in 2021.