The rapid rise of Tik Tok is continuing to confound Facebook, (now known as Meta) as China’s video app is set to overtake both Twitter and Snapchat this year.
It is said that Tik Tok may even overtake Google’s YouTube. According to a Guardian report on April 9, “Last year it overtook the global ad take of Snapchat.”
This, despite 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.
Statistics by data.ai show that an average Tik Tok user spends 19 hours 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 Tik Tok numbers are soaring in the United States and elsewhere, emerging as the highest grossing non-game app in the first quarter of 2022.
Where youth is concerned, Tik Tok and Snapchat are currently the two most popular social media platforms among teenagers with Instagram coming in third. Studies also show teens and adolescents were quite averse to Facebook and preferred other social media platforms.