[eMarketer] Influencer marketing dollars flow to TikTok

TikTok’s influencer marketing takeover is nothing short of astounding. In 2019, the app accounted for 2.3% of US spending on creator campaigns. This year, TikTok’s share will reach 15.5%, beating Facebook’s 14.8%. Instagram will remain on top with 44.7%.

eMarketer says that this year, TikTok ad revenues will approach $6 billion in the US. They’ll surpass $11 billion by the end of 2024. The figures for Instagram are far higher: close to $30 billion this year and more than $40 billion in 2024.

Still, TikTok will continue to encroach on its rival’s turf as the ByteDance-owned app gets even more shoppable.

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