TikTok has become the go-to for advertisers, with earnings showing a massive 155 percent growth rate, four times more than Apple and seven times more than Amazon.
Data by OnlyAccounts.io shows that online advertising is TikTok’s main revenue stream, having brought billions of dollars for its owner ByteDance.
Equally, data from Statista and eMarketer show that the Beijing-based tech giant grossed roughly $16bn from TikTok ads between 2020 and 2022. Last year alone brought $9.9bn in ad revenue, expected to rise to around $13.5bn in 2023.
While TikTok might have lost the title of fastest-growing social media platform, the short-form video app remains the top place for marketers to promote their brands and businesses. With the potential to reach millions of people practically overnight, marketers have spent billions of dollars on TikTok promotions over the past years, and the figure keeps growing.
With an impressive 155 percent annual growth rate, TikTok ranked as the company with the fastest-growing digital ad revenue in the world and the only social media platform on the list made of tech and retail giants.
Mercado Libre ranked second, with 72.1 percent ad revenue growth in 2022. Jumia, Fallabela.com, and Walmart USA followed, with 66.7 percent, 48 percent, and 42.7 percent growth rates, respectively. The two US tech giants, Apple and Amazon, saw much smaller ad revenue growth than TikTok. Apple ranked sixth on the list with a 36.6 percent growth, and Amazon was three places below with 21 percent.
Over the past five years, more than 1.5 billion people have started using TikTok, pushing its total user count to 1.92 billion in 2023. A huge part of this figure comes from the United States, TikTok`s top market with the largest advertising audience.
According to a DataReportal survey, the United States has the largest TikTok advertising audience, with 116.5 million users as of April. Indonesia closely follows with 112.9 million users, while Brazil ranks third with 84.1 million TikTok users. Mexico and Russia close the list of the top five TikTok advertising audiences, with 62.4 million and 51.2 million users, respectively. In comparison, top European markets, like France, Germany, and the United Kingdom, are far below these figures, with their advertising audiences counting around 20 million TikTok users.
