The ByteDance-owned app’s ad business will skyrocket to $23.58 billion in 2024, catching up with YouTube
TikTok is on track to triple its ad revenue this year, surpassing the revenue of Twitter and Snap combined.
Boosted by growing engagement and commerce activity, TikTok’s ad revenue is projected to triple from $3.88 billion in 2021 to $11.64 billion this year — up a whopping 200% — according to eMarketer’s forecast. That makes the ByteDance-owned app’s ad business larger than both Twitter’s ($5.58 billion) and Snap’s ($4.86 billion). And by 2024, analysts expect TikTok’s ad business to double again to $23.58 billion, with over half of that revenue coming from the U.S., allowing it to catch up with YouTube’s $23.65 billion haul in ad revenue.