of Facebook and Instagram, which suffered a 14% decline in ad sales in the second quarter from the same period a year earlier. ![]() TikTok is expected to report ad sales of $11.6 billion this year, triple the $3.8 billion in 2021, according to Business Insider. That caused advertisers to focus more on short-form video service providers. TikTok seized the throne in the global social media industry in the first quarter, with an average monthly usage time of 23.6 hours - topping YouTube’s average of 23.2 hours and Facebook’s 19.4 hours, according to app data analysis platform data.ai. TikTok, which launched outside China in 2017, has attracted a worldwide following among Gen Z users, those born after the mid-1990s, with its lure of 15-second videos. They spent 1.14 billion minutes a month on Naver, Korea’s largest online portal. That exceeds their 1.86 billion minutes on KakaoTalk, the top domestic mobile messenger app, according to Korean market data analysis service WiseApp. South Korean teens appear to prefer to do their social networking on TikTok over KakaoTalk, as short-form videos surge in popularity worldwide.Ī July survey of Korean teenagers showed they spend 1.94 billion minutes a month on TikTok, a short-form video hosting service operated by the Chinese company ByteDance.
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