Furthermore, TikTok is predicted to meet up with Google-owned YouTube by clocking $23.6 billion in ad income by 2024, reviews The Guardian. “Final 12 months, it overtook the worldwide ad take of Snapchat,” the report stated on Saturday.
TikTok, which was banned in India in June 2020 together with a number of Chinese language apps within the first lot, is prone to triple its international worldwide ad revenues $11.6 billion this 12 months – greater than $10.44 billion for Snapchat and Twitter mixed.
A TikTok consumer spent 19.6 hours on common per thirty days on the app final 12 months, in response to knowledge.ai, which is the same as Fb which is seeing its consumer development stalled, and dwindling among the many Gen Z and millennials.
Whereas Fb nonetheless has 2.9 billion month-to-month lively customers and Instagram almost 2 billion and Meta registered $118 billion in income final 12 months, the Mark Zuckerberg-run firm is anxious at TikTok’s rise.
Fb has been dropping customers for fairly a while whereas TikTok’s utilization is rising within the US.
Meta’s current earnings report stated that Fb’s lively customers dropped by virtually 5 lakh on the finish of final 12 months.
In the meantime, TikTok emerged as the highest grossing non-game app in Q1 2022, producing $821 million in client spending within the quarter.
On Google Play, it got here second to Google One, which topped the chart with almost $250 million, in response to Sensor Tower.
A contemporary teen survey claimed that TikTok and Snapchat are the 2 hottest social platforms amongst teenagers, with Instagram on the third spot. Simply 3% of teenagers stated they most well-liked Fb.