According to industry statistics, thanks to its increasingly strong market share, TikTok is the only large social media platform that has seen a significant increase in advertising revenue this year. According to a report released on December 4 by WPP’s media investment company GroupM (GroupM), TikTok’s advertising revenue will double in 2022. Ad spending on social media is up 4% year-on-year this year, down from 36% in 2021, the data showed. TikTok’s headwind growth in advertising revenue is due to the large amount of time spent by American users on TikTok, which firmly holds the leading position in the ranking of time spent on social networks. | Related reading (Wall Street News)
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