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TikTok will grow its net ad revenues in the US by an astounding 184.4% this year to hit $5.96 billion. The app’s ad revenues will settle into a double-digit growth trajectory starting next year and top $11 billion in 2024.
Beyond the chart: TikTok is gaining on some more-established digital ad sellers. In 2022, the short-video app will rake in 2.4% of the country’s nearly $250 billion in digital ad spending—just 1 percentage point less than YouTube, and more than Snapchat and Twitter combined. Still, that’s a drop in the bucket compared with Google and Meta, which will claim 28.2% and 22.3% of the US digital ad market, respectively.