The forecast: Ad revenues for short-video-sharing app TikTok and Chinese sister app Douyin will hit $31.66 billion this year to account for 5.3% of the global digital ad market.

Dive deeper:

• TikTok alone will triple its worldwide ad revenues this year to reach $11.64 billion, making up 1.9% of worldwide digital ad spend.
• The US currently accounts for more than half of TikTok’s worldwide ad revenues, but that share will fall below 50% next year as the app continues to gain popularity worldwide.
• While more than half of ad revenues for TikTok and Douyin parent company Bytedance currently come from China, this share will shrink in the coming years as platform use saturates in China and grows in the rest of the world.
• Notably, TikTok and Douyin are No. 5 globally for share of digital ad spend, falling behind Google, Meta, Alibaba, and Amazon.

Looking ahead: TikTok and Douyin's combined revenues will maintain double-digit growth through 2024, as their share of global digital ad revenues expands to 6.7% for a total of $50.88 billion.