Short-video-sharing app TikTok, which is owned by Chinese company ByteDance, is expected to triple its advertising revenues in 2022, exceeding $11 billion, reports Reuters. If achieved, this number would be greater than the combined sales of rivals Snapchat and Twitter. TikTok has over 1 billion active users.
“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 Debra Aho Williamson, analyst at Insider Intelligence. Twitter and Snapchat are expected to generate $5.58 billion and $4.86 billion, respectively, in advertising revenue for 2022, with the combined value still less than the $11 billion projected for TikTok.
Nearly $6 billion, or more than half, of this year’s ad revenue is expected to come from the United States, despite regulatory concerns over user data from US being passed on to China.