TikTok’s ad revenue will exceed $11 billion and triple this year, surpassing the combined sales of social media platforms Twitter and Snapchat. TikTok has become by far the most popular app in its field worldwide, and other social media apps including Instagram Reels and YouTube Shorts have tried to replicate the short video strategy.
At least the numbers released by research firm Insider Intelligence show this. Twitter and Snapchat are expected to generate $5.58 billion and $4.86 billion in ad revenue, respectively, in 2022. The sum of these revenues is still less than TikTok’s $11 billion. If TikTok continues to grow at this rate, it will surpass YouTube’s estimated $23.6 billion in ad revenue by 2024.
Even after former US president Donald Trump’s attempts to ban TikTok, there has been quite significant growth and more than half of the company’s revenue is expected to come from the US. TikTok has faced many different challenges over the past few years: Donald Trump tried to force TikTok’s parent company, ByteDance, to sell its international operations to a US company, a group of state attorneys launched an investigation into TikTok, and many Chinese states banned in India two years ago. included in the application.
Despite all the difficulties it faces, TikTok currently has more than 1 billion global users and continues to attract users of other social media platforms.
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