TikTok’s growth continues at an incredible pace, with the app’s ad revenue set to surpass Twitter and Snapchat in 2022.
TikTok was the big winner of the pandemic, among social media platforms, growing at a much faster rate than older, more established rivals. That growth is paying off, according to Reuters, with the company expected to bring in more than $11 billion in ad revenue in 2022, more than Twitter and Snapchat combined.
“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, analyst at Insider Intelligence, told Reuters.
More than half of the company’s revenue is expected to come from the US, a big win for TikTok, considering how close it came to being banned from the US during the Trump administration.