TikTok may reach 1.5 billion monthly users within the next year, according to data from App Annie’s 2022 Mobile Forecast report.
This number is higher than Instagram, with a billion active users. App Annie had predicted that TikTok would reach over a billion users in 2021, which occurred.
TikTok’s growth rate is faster than any other social media platform in history, said the report, adding that if India had not banned TikTok in 2020, it could be assumed that there would be around 500 million users in the country.
Instagram added Reels, and Youtube added Shorts to compete with TikTok, but they have not slowed the platform’s growth. Instead, TikTok can do better because of its superior algorithm, which keeps users glued to a stream of videos.
According to the App Annie article, there is a massive opportunity for brands to advertise on TikTok. The article predicts that the social media giant could have over 2 billion active users by 2023.