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May 10, 2022
TikTok’s Ad Revenues On the Rise With the Support of Major Digital Ad Players
Everything you need to know in less than 50 words
TikTok’s ad revenues are climbing at an accelerating rate. This year TikTok’s revenue is projected to increase by 184.4% to hit $5.96 billion. By 2024, their ad revenue is projected to hit $11 billion.
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In 2022, Tiktok will receive 2.4% of the country’s almost $250 billion in digital ad spending. This is just 1% below Youtube and more than Twitter and Snapchat combined.
TikTok has been steadily rising in users since its creation in 2016, so it is no surprise why advertisers love the app. In September of 2019, TikTok reached 1 billion active monthly users despite America attempting to regulate its use due to its connections to the Chinese government.
By March 2022, 60% of US TikTok users were between 16 to 24 years old. Those aged 4 to 15 reportedly spend 90 minutes a day on the app on average. TikTok is also launching many features that weren’t previously available on social media platforms.
TikTok’s ad revenues are climbing at an accelerating rate. By 2024, TikTok's ad revenue is projected to hit $11 billion.
TikTok revenue and usage statistics
In 2022 TikTok made strides in its user rates which only contributed to its steadily increasing ad revenue. Some interesting statistics will be listed below.
- On September 27th, 2019, TikTok announced that it reached 1 billion active users globally. This marks a 45% jump since July 2020, with the U.S., Europe, Brazil, and Southeast Asia being the biggest popular social media app consumers.
- TikTok became the most visited site in the world in 2021, surpassing Google last year.
- As of March 2021, 50.6% of Android TikTok users in the U.S. shared the app daily, and according to App Ape, 77.1% of users in the U.S. were monthly active users.
- The mobile app of TikTok was downloaded over 2 million times and broke a new record by getting 315 million installs, becoming the most downloaded app in the first quarter of 2020.
- The app is available in more than 150 countries and supports 39 languages.
- In Q1 2022, TikTok had generated $821 million in global consumer spending across the Apple App Store and Google Play Store.
- The most viewed video on the app has over 2.2 billion views.
- In the first half of 2021, TikTok generated an estimated $919.2 million in consumer spending, and it has now surpassed $2.5 billion worldwide.
Our Two Cents
The ad revenue gained by TikTok reaches billions of dollars, and they are projected to continue to trend upwards in terms of profit and user spending. TikTok is a widely successful app with its target audience, Gen Z, being the primary source of their income.
The app will likely not only surpass Snapchat and Twitter in ad revenue but even more social media companies as the successful app continues its upward trajectory. Its expansive user base will be sure to attract more businesses and advertisers in the near future.
Source: eMarketer
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