TikTok to rank as the third largest social network, 2022 forecast notes – TechCrunch

New forecasts described TikTok as the third largest social network in the world, after Facebook and Instagram. In its opening forecast on TikTok’s global install base, Insider Intelligence – the company formerly known as eMarketer – expects TikTok to reach 755.0 million monthly users in 2022, having seen 59.8% growth in 2020, followed by 40.8% growth in 2021.

Facebook, as of its latest earnings, reported 2.91 billion monthly active users after seeing 6% year-over-year growth. Most recently, Instagram staff leaked that its network has exceeded 2 billion monthly users, up from the 1 billion monthly users reported in June 2018.

However, Insider Intelligence forecasts its 2022 forecast, which uses a slightly different set of calculations. The company has its own definition of monthly active user which may differ from the definition of each company it analyzes. For example, it only counts users who log in at least once a month consistently over a calendar year period, and tries to exclude fake accounts from its estimates. This is intended to provide customers with a more consistent “apples to apples” comparison across all platforms.

According to the company’s estimates, Facebook will reach 2.1 billion monthly users in 2022, followed by Instagram with 1.28 billion users. It will follow TikTok with 755 million monthly users, ahead of Snap and Twitter.

Image credits: Informed Intelligence

TikTok, over the past couple of years, has been growing rapidly.

App intelligence firm Sensor Tower reports that the short video app surpassed 2 billion downloads across the App Store and Google Play in the first quarter of 2020. A separate report from App Annie later found that TikTok saw 325% growth in 2020, monthly time spending increased Per user also faster than any other app – including at 65% in the US, overtaking Facebook.

In July 2021, Sensor Tower noted that TikTok (including its sister app Douyin in China) became the first non-Facebook (outside of games) mobile app to reach 3 billion downloads globally via the App Store and Google Play, while surpassing TikTok consumer spending is $2.5 billion globally. This app put in the company of only a handful of others that have reached this milestone, including Tinder, Netflix, YouTube, and Tencent Video.

While other companies have expected TikTok’s monthly active user base to exceed one billion in 2021, Insider Intelligence’s forecasts are a bit more conservative due to its methodology. But it expects the application to continue to grow, if at a slower rate of 15.1% in 2022.

As a result of its growth, TikTok’s share of total social network users has also risen. Insider Intelligence forecasts believe TikTok will exceed 20% share for the first time and will approach a quarter share by 2024.

“The rise of TikTok presents a particular challenge for Snapchat, as it competes head-to-head with the younger audience,” said Insider Intelligence Principal Analyst, Debra Aho Williamson. “Although TikTok does not share much in common with Twitter, its sheer size relative to the more established platform is a clear reflection of the addictive nature of TikTok content,” she said.

There is still plenty of room for TikTok’s future growth, the company noted, as in the next year 3.57 billion people will use the social networking app at least once a month.

Leave a reply:

Your email address will not be published.