Market research firm Insider Intelligence expects TikTok-only advertising revenue in the US in 2022 to reach $5.96 billion, about 2.8 times more than last year.
TikTok is one of the world’s most popular social media applications owned by ByteDance , with more than one billion active users worldwide, and market research firm Insider Intelligence previously claimed that TikTok’s global revenue could triple to more than $11 billion in In 2022, the total advertising revenue of competitors on social media may exceed Twitter and Snapchat.
Tik Tok is making huge profits
Insider Intelligence stated that Google and Meta are still the kings of the digital advertising market, as they will receive nearly half of the world’s digital advertising revenue by 2022 compared to 1.9% in TikTok, while TikTok competes strongly with them thanks to the short videos that it broadcasts.
It is worth noting that in the past year, Apple made it difficult for advertisers to target consumers due to the privacy and security settings it develops on iPhone phones and prevent giant companies such as Google and Facebook from eavesdropping on their users to learn their preferences shown to them on ads, which has undermined the business of giants. Technology Google and Meta.
As a result, companies have shifted their advertising spending to new niches with the bulk of which goes to short video platforms like Tik Tok.
TikTok is currently on track for $12 billion in ad revenue this year, 3 times more than it was last year, and ByteDance, which owns TikTok, is expected to see a 50% increase in ad revenue this year.