The influencer marketing blitz by TikTok is nothing short of remarkable, reports Insider Intelligence/eMarketer.
In 2019, the app accounted for 2.3% of all spending on creator campaigns in the United States. TikTok’s market share will surpass Facebook’s 14.8% this year. Instagram will maintain its lead with 44.7%.
TikTok ad revenues in the United States will surpass $6 billion this year, according to the report and by the end of 2024, they will have surpassed $11 billion. Instagram’s numbers are far higher: close to $30 billion this year and over $40 billion in 2024. Nonetheless, TikTok will continue encroaching on its competitor’s territory as TikTok becomes more shoppable.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
