The rampaging rise of TikTok is continuing to confound Facebook (now renamed Meta) as China’s wildly popular short-video sharing app looks set to overtake both Twitter and Snapchat this year.
It’s even been predicted that Tik Tok could overtake Google’s YouTube. According to a report in The Guardian on April 9, “Last year it overtook the global ad take of Snapchat.”
This achievement comes in spite of being banned in huge markets like India. It is predicted that it is likely to triple its global ad revenues to USD$11.6 billion, more than USD$10.44 for Snapchat and Twitter combined.
Owned by Beijing-based ByteDance, it wa launched in 2017.
Statistics by data.ai show that an average Tik Tok user spends 19.6 hours per month on average on the app, which is the same amount as Facebook users. Facebook continues to see its growth stunted as Gen Zs and millennials move away from it.
Currently Mark Zuckerberg’s Facebook has 2.9 billion monthly users and Instagram has nearly two billion users which isn’t a bad thing at all but its earnings show that usage has continued to drop in recent years.
In the meantime, TikTok’s numbers are soaring in the United States and elsewhere, emerging as the highest grossing non-game app in the first quarter of 2022.
TikTok and Snapchat are currently the two most popular social media platforms among teenagers, with Instagram coming in third. Studies also show teens and adolescents being quite averse to Facebook and preferring other social media platforms.
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