- Video-sharing app TikTok's advertisement revenue is likely to triple in 2022 to over $11 billion, Reuters reports quoting Insider Intelligence.
- TikTok's revenue will likely surpass the combined sales of its rivals, Twitter Inc (NYSE:TWTR) and Snap Inc (NYSE:SNAP).
- Nearly $6 billion, or more than half, of 2021's ad revenue will likely come from the U.S., despite regulatory concerns over user data from the U.S. passing on to China.
- Also Read: Facebook Continues To Lose Out On User Time; Netherlands Data Center Plans Face Opposition
- ByteDance Ltd's TikTok is a leading social media app with over 1 billion active users.
- Twitter will likely generate $5.58 billion and Snapchat $4.86 billion in advertising revenue for 2022, with the combined value lagging the $11 billion projected for TikTok.
- Price Action: TWTR shares closed higher by 1.67% at $47 on Monday.
- Photo by livier-bergeron via unsplash
