TikTok and Candle Media strike deal to co-create content
Technology
The "BookTok" hashtag has garnered over 147 billion views on the short-video sharing app
(Reuters) - TikTok and Blackstone-backed Candle Media will co-create content and branded entertainment as part of a broad strategic partnership in the United States, the companies said on Tuesday.
A key piece of the partnership will be Hello Sunshine, Reese Witherspoon's company that Candle acquired in 2021. TikTok will give the production house behind HBO's "Big Little Lies" access to the platform's #BookTok community to uncover talent that can help support the development of film, TV and audio projects.
The "BookTok" hashtag has garnered over 147 billion views on the short-video sharing app.
TikTok, owned by China's ByteDance, will also allow advertisers purchase advertisements directly adjacent to Candle content and share that ad revenue as part of the tie-up.
Candle Media was founded by former top Walt Disney (DIS.N) executives Kevin Mayer and Tom Staggs.
