TikTok’s Ad Revenue Grows

TikTok is on pace to make nearly $10 billion in ad revenue, more than double what it generated last year. Although it is still dwarfed by giants Google ($GOOGL@US) and Meta ($META@US), it may surpass rivals Twitter ($TWTR@US) and Snap ($SNAP@US). Some advertisers have concerns about TikTok’s Chinese owners, but with one billion users who spend an average of 96 minutes a day on the app, many advertisers continue to invest their dollars into the platform.