TikTok and Candle Media, a company backed by Blackstone, have announced a strategic partnership in the United States to collaborate on co-creating content and branded entertainment.
As part of the partnership, Candle has acquired Hello Sunshine, Reese Witherspoon’s company, and will have access to TikTok’s #BookTok community. This will aid in the discovery of new talent to support the development of film, TV, and audio projects by the production house behind HBO’s “Big Little Lies.”
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The hashtag “BookTok” has received over 147 billion views on the short-video sharing app.
TikTok, which is owned by China’s ByteDance, has announced that advertisers can now purchase ads directly next to Candle content. As part of the partnership, both parties will share the revenue generated from these ads.
Kevin Mayer and Tom Staggs, former top executives at Walt Disney, founded Candle Media.
