TikTok global ad revenue to reach $13.2bn in 2023

After triple-digit ad revenue growth in 2021 and 2022, TikTok will grow slower next year.

Even a juggernaut like TikTok is finding its progress hampered by an industry-wide slowdown in digital advertising investment.

Last month, the Financial Times reported that TikTok has “slashed” its worldwide revenue targets for 2022 by “at least $2bn”, as it struggles to keep up with “ambitious” internal goals. The platform had “previously projected revenues between $12bn and $14.5bn this year”, the FT wrote.

The figures reported in the FT article largely tally with WARC Media’s forecastfor the coming 12 months. The platform, owned by ByteDance, is expected to achieve global ad revenue of $9.3bn in 2022,...

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