According to **, ByteDance's revenue in 2023 will reach $110 billion, a year-on-year increase of about three percent.
That's enough to surpass Tencent and close in on Meta, which will have revenues of about $87 billion and $133 billion, respectively, this year, according to their respective financial guidanceBut it's still only about a third of Google, the world's largest digital advertiser.
ByteDance's revenue still mainly comes from domestic advertising and e-commerce, but the pull brought by TikTok's high growth cannot be ignored. According to the previously disclosed data, TikTok's revenue contribution to the entire byte in the second quarter of this year has been close to 20%.
In contrast, both Meta and Google are in the business of digital advertising (especially in the US market). Advertising revenue accounted for about 95% and 80% respectively, and naturally they were hit harder by the overall macroeconomic and corporate marketing spend contraction. In addition, marketers are more likely to advertise through channels that are close to consumers and have high conversion rates.
Research firm Insider Intelligence estimates that Google and Meta had a market share of 48 percent of the U.S. digital advertising market last year4%, the first time since 2014 that it has fallen below 50%. They expect that number to drop further to 44 this year9% because more share will go to Amazon, TikTok, and other streaming** platforms.
Larger volumes also mean increasingly stringent antitrust regulations. Google and Meta have been subject to regulatory investigations in the European Union, the United Kingdom, and the United States over the years. It wasn't until September of this year that Byte was recognized by the European Union as one of the first companies under the Digital Markets Act, after they were more concerned by overseas regulators for juvenile protection and data privacy issues. (Qiu Hao).