Advertising and ad revenue from pandemic-hit video-sharing app TikTok is expected to triple in 2022 to more than $11 billion. The figure exceeds the sales of its rivals Twitter and Snapchat combined, according to research firm Insider Intelligence.
TikTok is owned by Chinese company ByteDance and has become one of the most popular social networking apps in the world with over 1 billion active users on the platform . “The TikTok user base has exploded in the last couple of years and the amount of time users spend on the app is extraordinary,” explained Debra Aho Williamson, analyst at Insider Intelligence.
Additionally, Twitter and Snapchat are estimated to generate $5.58 billion and $4.86 billion, respectively, in ad revenue this year. However, the combined value of the two social networks is still less than the $11 billion projected for TikTok.
The projection indicates that nearly $6 billion, or that would be more than half of advertising revenue, comes from the United States, even with regulatory actions over US user data being passed on to China.
