June 9, 2022
TikTok’s worldwide ad revenues will triple this year, according to Insider Intelligence’s inaugural forecast on TikTok ad revenue. TikTok’s worldwide ad business grew 175.0% in 2021 to $3.88 billion. Growth will soar to 200.0% this year, propelling revenue to $11.64 billion. That means its ad business will be greater than Twitter’s ($5.58 billion) and Snapchat’s ($4.86 billion) combined. TikTok is also nipping at YouTube’s heels. By 2024, the end of the forecast period, TikTok’s ad revenue will swell to $23.58 billion, essentially equivalent to that of YouTube ($23.65 billion). By then, each company’s share of the worldwide digital ad market will be 3.1%. Despite explosive growth in revenues, TikTok still maintains a small position in the worldwide digital ad market. Its share will grow to 1.9% this year from 0.7% in 2021. For context, Google leads with 29.0%, followed by Meta with 21.4%. 51.2% of TikTok’s ad revenue will come from the US this year. It will generate $5.96 billion, up 184.4% year over year (YoY). That gives the social network a 2.4% share of the US digital ad market. Importantly, the Chinese app will surpass Twitter and Snapchat combined within the US market, as well. TikTok’s UK ad revenue will jump 190.2% to £753.32 million ($1.04 billion), which will make up 8.9% of the company’s global ad revenue by the end of this year. That will give the company a 2.9% share of the UK digital ad market.