TikTok is on track to generate $32 billion in global advertising revenue in 2024, representing a 24.5% year-on-year increase, according to new research from WARC Media. 

This growth rate outpaces major competitors Facebook (9.3%) and Instagram (19.0%), positioning TikTok to capture 11% of worldwide social media ad spend.

User Engagement Drives Growth

The platform continues to dominate user attention, with average users spending more than 35 hours monthly on the app in 2024—more than double the time spent on Instagram. 

This engagement level supports TikTok’s appeal to advertisers seeking platforms where consumers spend significant time.

Consumer behavior on TikTok increasingly focuses on commercial activity, with WARC Media reporting that 57% of global users utilize the platform’s search function to find information about products and brands.

Geographic Revenue Shifts Amid Regulatory Uncertainty

While the United States remains TikTok’s largest market, its proportion of the platform’s total ad revenue is declining. WARC Media forecasts show the U.S. share dropping from 43.3% in 2022 to a projected 34.0% by 2026, as revenue growth accelerates in other regions.

According to global analyst and advisory company Omdia, TikTok‘s global ad revenue (including ByteDance’s Chinese operations) has reached $63.3 billion, nearly double YouTube’s $33.3 billion.

The platform faces ongoing regulatory challenges in the U.S. market. President Donald Trump’s 75-day deadline extension to April 5 has not eliminated uncertainty for advertisers, says Alex Brownsell, Head of Content at WARC Media and lead author of the report.

Image credit: WARC Media

If TikTok avoids U.S. restrictions, the platform is projected to earn $11.8 billion in U.S. ad revenue this year—a 21.0% increase that outpaces the overall U.S. social media advertising growth rate of 10.6%. This figure is expected to reach $13.4 billion by 2026. According to Omdia, the platform currently generates approximately $8 billion in U.S. ad revenue.

WARC Media’s analysis indicates that Instagram would likely benefit most from any TikTok ban, with YouTube and Snapchat also positioned to capture redirected advertising budgets.

Indeed, Billion Dollar Boy research indicates that Instagram Reels witnessed a 16% increase in creator posts following the January 19 TikTok blackout while maintaining relatively stable viewership with only a 4% decline in average views per video.