According to research company Insider Intelligence, TikTok’s ad revenue is expected to triple to more than $11 billion in 2022, surpassing the combined sales of rivals Twitter Inc (TWTR.N) and Snap Inc (SNAP.N).
With over 1 billion active users, TikTok, which is owned by Chinese startup ByteDance, is one of the most popular social media apps in the world.
“Insider Intelligence analyst Debra Aho Williamson noted that TikTok’s user base has skyrocketed in the last couple of years, and the amount of time people spend on the app is astonishing.”
In 2022, Twitter and Snapchat are estimated to produce $5.58 billion and $4.86 billion in advertising income, respectively, which is still less than TikTok’s projected $11 billion.
Despite legal concerns about user data from the United States being sent on to China, the United States is estimated to account for about $6 billion, or more than half, of this year’s ad revenue.