TikTok to be no 3 in social networks
A new forecast has claimed that short video platform TikTok is expected to become the world’s third-largest social network in 2022.
San Francisco: A new forecast has claimed that short video platform TikTok is expected to become the world's third-largest social network in 2022.
The report by Insider Intelligence -- the firm previously known as eMarketer -- predicts that TikTok will reach 755.0 million monthly users in 2022, after seeing 59.8 per cent growth in 2020, followed by 40.8 per cent growth in 2021, reports TechCrunch reported on Monday.
"The rise of TikTok is especially challenging for Snapchat, with which it competes head-to-head for the youth audience," Insider Intelligence principal analyst, Debra Aho Williamson was quoted as saying by the website.
"Although TikTok does not share much similarity to Twitter, its massive size relative to the more-established platform is a clear reflection of the addictive nature of TikTok's content," she added.
Meta-owned Facebook, as of its most recent earnings, reported 2.91 billion monthly active users after seeing 6 per cent year-over-year growth.
