CapCut could be just what ByteDance needs

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Hi there,

I used to be really interested in video editing for a while. Just over a year ago, I was the editor for a talk show series about Singapore’s rock climbing scene called Pinch of Salt. (Although we’ve put the show on hiatus for the time being, here’s a shameless plug if you’re interested to know more about the sport).

While the videos were relatively straightforward to edit, it took me quite a while to get into the workflow, especially since each episode was rather long. There were also some episodes that were particularly difficult given our filming set up.

Despite all that work, I knew I’d only scratched the surface of how difficult editing could really be. That’s why I’ve always found it amazing how apps like TikTok can make it look so effortless. Some creators on the platform have put out truly creative videos, seemingly in no time at all.

And now that video-editing apps like CapCut have come into the picture, it could take these creators’ editing capabilities to the next level. Today’s story takes a look at how the app is performing and what it could mean for its developer, ByteDance.

Today we look at:

• Whether CapCut could be ByteDance’s new moneymaker
• How China’s reopening can help the global economy
• Other newsy highlights such as Temasek’s internal review and JD.com possibly pulling out of its joint ventures in Indonesia and Thailand.

PS: Check out Tech in Asia’s updated hiring tracker. Fill up this form in case you are hiring.

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Premium summary

CapCut’s numbers have no cap

It’s safe to say that CapCut’s popularity is no joke. The app – along with its Chinese counterpart Jianying – got 11 million global downloads in September alone, and it has the highest number of monthly active users among video-editing apps.

It seems like ByteDance has put out a hit. Here’s a deeper look at what CapCut is bringing to the table.

• Southeast Asian stranglehold: In six Southeast Asian countries (Indonesia, Malaysia, Singapore, Philippines, Thailand, and Vietnam), CapCut’s download ranking on mobile app stores is impressive. It’s the most downloaded app on the Apple App Store for all six countries, while it doesn’t fall below fourth place on the Google Play Store.

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What China’s reopening means for the world

The short answer is that the country’s reopening – which could occur as soon as next spring – could help relieve some of the inflationary pressure that the global economy is facing. That’s great news, considering that growth in developed markets is expected to slow down, according to a Morgan Stanley report.

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TIA x Seek Asia: Tech Community Networking

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Quick bytes