Furthermore, TikTok is predicted to meet up with Google-owned YouTube by clocking $23.6 billion in advert income by 2024, reviews The Guardian. “Final yr, it overtook the worldwide advert take of Snapchat,” the report mentioned on Saturday.
TikTok, which was banned in India in June 2020 together with a number of Chinese language apps within the first lot, is more likely to triple its international worldwide advert revenues $11.6 billion this yr – greater than $10.44 billion for Snapchat and Twitter mixed.
A TikTok person spent 19.6 hours on common monthly on the app final yr, in response to knowledge.ai, which is the same as Fb which is seeing its person progress 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 yr, the Mark Zuckerberg-run firm is frightened at TikTok’s rise.
Fb has been shedding customers for fairly a while whereas TikTok’s utilization is rising within the US.
Meta’s latest earnings report mentioned that Fb’s lively customers dropped by nearly 5 lakh on the finish of final yr.
In the meantime, TikTok emerged as the highest grossing non-game app in Q1 2022, producing $821 million in shopper 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 mentioned they most well-liked Fb.