Advertisement revenue of video-sharing app TikTok is likely to triple in 2022 to more than $11 billion, exceeding the combined sales of its rivals Twitter and Snap, according to research firm Insider Intelligence.
TikTok, which is owned by Chinese company ByteDance, is one of the world’s most popular social media apps, with more than 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.
TikTok is expected to generate advertising revenue of nearly $6 billion from the United States, despite regulatory concerns over user data from U.S being passed on to China.