TikTok sees March surge despite political clouds: Sensor Tower | WARC | The Feed
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TikTok sees March surge despite political clouds: Sensor Tower
Brands are spending more on TikTok in the face of a ban, as the numbers continue to make sense for brands despite the political furore.
SensorTower data, reported by the Financial Times, suggests that US advertiser spending on the short video app grew 11% in March alone.
What’s going on
It comes as major agencies sidestep the issue of a ban, understandably not wishing to get involved in the politics of an issue that could linger in the news for a long time before any resolution or eventual action is taken.
As a result, agency and brand-side decision-makers appear to be banking on a protracted process and continue to spend, yet the FT reports that some agencies are closely examining the terms of cancellation for inventory bought.
- WARC has forecast that TikTok will buck a wider trend in the advertising market by earning $15.2bn globally in 2023, an increase of 51.7%
- This follows an expectedly strong 2022, in which the platform reportedly grew global revenues around 30%.
- It remains popular among audiences and advertisers (76% of whom planned to increase spend). A significant number of brands have seen swift growth in user interactions on their TikTok activity.
Sourced from the FT, WARC
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