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It is no secret that TikTok is one of the most influential social media platforms worldwide. With a billion active users every day, it is no wonder why it is likely to produce revenue that is higher than the combined sales of Snap Inc and Twitter Inc this 2022.
According to Insider Intelligence, a combination of eMarketer and Business Insider Intelligence research firms, TikTok’s advertisement revenue is expected to triple this year. The estimated number is likely to reach more than $11 billion. This is still far from the $5.58 billion and $4.86 billion that Twitter and Snapchat are anticipated to produce, respectively. That is all possible due to the unceasing growth of its users’ population in the past years, making it the perfect platform for marketers and businesses in advertising their brands and products. Even employers are using it to target young talent.
“TikTok’s user base has exploded in the past couple of years, and the amount of time users spend on the app is extraordinary,” said the Insider Intelligence analyst Debra Aho Williamson to Reuters.
Surprisingly, half of the said total ad revenue (at least $6 billion) of the ByteDance video-sharing app will come from the United States in spite of the country’s data regulation concerns with the platform.