TikTok is becoming a platform that advertisers are clamoring to be on: Analyst

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"Tesla CEO Elon Musk possibly buying Twitter may be dominating the headlines but advertisers have their eyes set on a relatively new kid in town."

"Like their 1 billion worldwide users, TikTok executives have many reasons to dance."

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"A new forecast of the Chinese social media platform’s ad revenue reveals that ByteDance-owned TikTok may become an advertising juggernaut."

“We are estimating that this year TikTok will make $11 billion in advertising worldwide, to put that in context,"

"That’s more than Twitter ($5.58B) and Snapchat ($4.86B) combined,” Insider Intelligence analyst Debra Aho Williamson told Yahoo Finance Tuesday."

"That would be a staggering achievement for ByteDance who released the viral app TikTok less than six years ago."

“One in five social network users worldwide is using TikTok, among the the adult users, We estimate they spend 40 minutes a day watching TikTok videos,"

"it’s absolutely a testament to how Tiktok is set up, its algorithm gives you a scrolling feed that’s pretty much endless,” said Williamson.

"In the grand scheme of things, however, TikTok is still small compared to Alphabet’s Google, which owns 29% of all online ad revenue,"

"And Meta which had $155 billions ad business in 2021."

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"However, there are widespread privacy and data collection concerns regarding the Chinese-owned app."

"The concerns over TikTok involve how users' information is being used and where data is being stored, for instance is data being sent to China?"

"TikTok says no, but that's really hard to prove."

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