LONDON, Today: TikTok was fastest growing social media company by ad revenue in 2022, according to UK-based gambling industry experts Betting Sites.
Data analysts at Betting Sites have done a deep dive on Statista into different social medias and their revenues and growth percentages to find out who is leading the pack.
Over the next four years, TikTok is projected to double its ad revenue by $ US7.4 billion and take over 37% of the ad revenue market share.
Highlights from the data:
- TikTok fastest growing social media company by ad rev 2022 (+26% YoY)
- TikTok market share of ad rev to overtake Meta & YT to be market leader by 2027 with 37% share
- TikTok ad rev to double by 2027 (to $ US13.8bn)
- In 2021, TikTok was the most downloaded mobile app in the world
- TikTok’s ad revenue has grown 26% in 2022, more than any other platform in the US
“TikTok is the fastest-growing media brand worldwide. In 2022, the growth rate of the brand increased 215% globally.”
The Chinese-owned social media platform (currently under intense fire thoughout much of the West) has been an immensely profitable business for advertisers, which has contributed to its overall growth.
While Facebook (18%) and Twitter (22%) share the market, TikTok is the fastest-growing media brand worldwide. In 2022, the growth rate of the brand increased 215% globally.
By 2027, TikTok’s ad revenue share is expected to double, increasing from 7% to 14% while Youtube and Meta are expected to lose market share during that timeframe. On the other hand, TikTok’s Chinese counterpart, Douyin, is expected to increase as well from 15% to 23%.
Combined, TikTok and Douyin will command 37% of the marketing adspend.
This year TikTok is projected to bring in $ US6.4 billion in ad revenue. By 2026, the ad revenue for TikTok is set to double, reaching $ 13.75 billion.
The ad revenue has steadily increased and will continue do to so over the next three years. By 2027, TikTok is projected to gain an average of $ US2 billion in ad revenue each year
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