Video-sharing app TikTok’s advertising revenue could triple to 22 11 billion (approximately Rs 83,620 crore) in 2022, surpassing the combined sales of its rivals Twitter Inc and Snap Inc, according to research firm Insider Intelligence.
TikTok, owned by Chinese company ByteDance, is one of the world’s most popular social media apps with over 1 billion active users.
“The number of TikTok users has exploded in the last few years, and the amount of time users spend on the app is remarkable,” said Debra Aho Williamson, an analyst at Insider Intelligence.
Twitter and Snapchat are expected to earn $ 5.58 billion (approximately Rs 42,500 crore) and $ 4.86 billion (approximately Rs 36,990 crore) from advertising revenue in 2022, with the combined value still less than $ 11 billion (approximately Rs 83,66,000 crore). Crore) has been projected for TickTock, according to the report.
About $ 6 billion (about Rs 45,670 crore), or more than half of this year’s advertising revenue, is expected to come from the United States, despite regulatory concerns about sending user data from the United States to China.
In other recent news, TikTok’s large user base and minimal filtering of content have enabled the social app to be used to spread misinformation related to the ongoing Ukraine war. Several fake videos, live-streams and misleading content have been shared with millions of views on the app. TikTok has agreed to redouble their efforts and has partnered with content checkers to reduce the spread of misinformation.
Thomson Reuters 2022