TikTok will surpass Meta Platforms’ Facebook when it comes to the amount of money advertisers spend on influencer marketing in the U.S. by the end of this year and will beat out YouTube by 2024, according to a new forecast from Insider Intelligence, provided exclusively to The Information. Both social networks won’t catch up to Instagram, also owned by Meta. The photo-sharing app continues to be the top platform by far for advertisers paying creators to promote products and services.
“Marketers are feeling more comfortable experimenting on TikTok,” said Jasmine Enberg, principal analyst at Insider Intelligence. “A lot of marketers were a little hesitant or uncomfortable with this new kind of format.”