At a Glance:
- TikTok’s ad revenue has surpassed Twitter and Snapchat.
- TikTok’s revenue for 2022 has tripled accounting for over $11 billion.
- Twitter and Snapchat ad revenue for 2022 is $5.58 billion and $4.86 billion respectively.
TikTok’s ad revenue has surpassed Twitter and Snapchat. The popular video-sharing app has tripled the ad revenue in 2022 and accounted for more than $11 billion. These numbers are rivaling the social media giants like Twitter and Snapchat.
ByteDance the parent company of TikTok is one of the world’s most popular social media apps. It has over 1 billion active users now.
TikTok user base rising
An analyst has commented on the incident stating that TikTok’s user base has grown significantly in a couple of years and has also surged the number of time that users spend on the app.
The advertising revenue of Twitter and Snapchat for 2022 was expected to generate $5.58 billion and $4.86 billion respectively. The combined ad revenue is still less than $11 billion.
Around, $6 billion of the year’s revenue came from the U.S. despite the regulatory concerns on user data being passed on to China.
Investing in new technologies
Recently, TikTok was also reported to sign a deal for Oracle Corp to store its U.S. user information without its Chinese parent company. This was intended to address the U.S. regulatory concerns over data integrity on the popular short video-creating app.
There were no official comments by TikTok or Oracle on the partnership. Although the spokesperson of TikTok did mention that the company will continue to invest in data security. TikTok is also partnering with other technology companies over the firewall and cyber security measures.
TikTok is among the leading social media apps and has over 1 billion active users across the world. The information of U.S. users is stored in TikTok data centers in Virginia with a backup in Singapore.
