TikTok Ad Revenue Forecast to Exceed $11B in 2022
Advertisement revenue for ByteDance’s video-sharing app TikTok is likely to triple in 2022 to more than $11 billion, exceeding the combined sales of market rivals Twitter and Snap, according to research firm Insider Intelligence.
“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, an analyst at Insider Intelligence.
The researchers predict that 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 for the platform is expected to come from the United States, analysts said.
Data from Sensor Tower also showed on Monday that in March 2022, TikTok and its sister app for the Chinese mainland, Douyin, have accumulated approximately 63 million installations in the global app stores, a year-on-year increase of 9.1%, ranking first in the non-game app download list.
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However, the future of TikTok is also full of uncertainties. Due to its popularity among millennials, the platform has aroused strong concern in the international community. Eight U.S. states announced in March that they have launched a nationwide bipartisan investigation into TikTok. The probe aims to determine whether TikTok causes harm to young people’s physical or mental health.