TikTok to beat Twitter, Snapchat by a huge margin in advertisement revenue this year: Study

Islamabad: Chinese video-sharing giant TikTok’s advertisement revenue is likely to triple in 2022 to more than US $11 billion, exceeding the combined sales of its rivals Twitter Inc (TWTR.N) and Snap Inc (SNAP.N or Snapchat), a study revealed.

According to a US research firm Insider Intelligence, TikTok, which is owned by Chinese company ByteDance, is one of the world’s most popular social media apps, with more than 1 billion active users.

“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, an analyst at Insider Intelligence.

Twitter and Snapchat are expected to generate US $ 5.58 billion and US $4.86 billion, respectively, in advertising revenue for 2022, with the combined value still less than the US $11 billion projected for TikTok.

Nearly US $6 billion, or more than half, of this year’s advertisement revenue, is expected to come from the United States, despite Washington’s regulatory concerns over user data from the US being allegedly passed on to China.