Ad revenues for short-video-sharing app TikTok and Chinese sister app Douyin will hit $31.66 billion this year to account for 5.3% of the global digital ad market.
ByteDance properties Douyin and TikTok have been making waves inside and outside China for several years. Their combined spectacular growth will result in ad revenues of more than $30 billion for their parent company in 2022, leaving ByteDance in fifth place among ad publishers worldwide.
Ecommerce transactions on Douyin, China’s version of TikTok, tripled to $77.48 billion (RMB 500 billion) in gross merchandise value (GMV) in 2020, per a report by Chinese news outlet LatePost. (More recent figures are not available.).
WeChat’s 811.0 million monthly users in China this year would place the super app in second place in Asia-Pacific, according to our figures. Tencent’s flagship also has millions of additional users among the Chinese diaspora in the region and around the world. Douyin’s 692.5 million users this year (all in China) would put it in third in the region.
Kearney’s China Diversification Index, which analyzes the shift of US manufacturing away from China to other low-cost countries in Asia, saw the US import value from China decrease from 66% of the total in 2018 to 55% at the end of 2021. “Made in America” will shift from a consumer preference to a business imperative.