TikTok is the only major social media platform that has seen significant growth in advertising revenue this year, the Financial Times reported on Monday, citing a survey conducted by media buying agency GroupM. The report stated that the hugely popular short video platform’s advertising revenue has doubled in 2022, beating its rivals Meta and Snap. The British newspaper reported last month that ByteDance-owned TikTok has already achieved close to $10 billion in revenue this year, bringing it close to its revised global revenue target of between $10 billion and $12.5 billion, which it set in September. While it still has some way to go in reaching its initial revenue goal of between $12 billion and $14.5 billion, the figure far exceeds the nearly $4 billion in revenue that research firm eMarketer reported the company made in 2021. [Financial Times]
TikTok sees ad revenue double despite sluggish market · Lovablevibes
