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TikTok's digital ad market share is growing. How will Google and Facebook react?

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TikTok's digital ad revenue could explode threefold — and could make a dent in the pockets of digital giants

TikTok, a favorite among those under 30, is gobbling up market share to the detriment of Alphabet Inc.’s GOOGL GOOG Google, Facebook parent company Meta Platforms Inc. META, and Snap Inc. SNAP — all of whom report quarterly results next week, according to a survey of 50 U.S. ad buyers by Wall Street firm Cowen.TikTok, a favorite among those under 30, is gobbling up market share to the detriment of Alphabet Inc.’s GOOGL GOOG Google, Facebook parent company Meta Platforms Inc. META , and Snap Inc.

Cowen expects TikTok’s digital ad revenue to explode to $36 billion by 2027 from $10 billion in 2022, lifting its share of the global market to 5.4% in 2027 from 2.3% last year. Some 46% of respondents chose TikTok as the platform where their top client would most prefer to advertise, Cowen analyst John Blackledge wrote, well ahead of Instagram’s Reels and Google’s YouTube Shorts .

 

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