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City AM
City AM
By Leah Montebello TikTok is expected to ride out the advertising slowdown, as the Chinese-owned social media titan becomes an outlier to the wider industry slowdown. According to a new report published by GroupM, the media buying agency owned by WPP, TikTok doubled its advertising revenue in 2022. “This has likely been another driver of the advertising deceleration or “pullback” noted at Meta and Snap over and above macroeconomic factors given that we see less deceleration across other digital platforms where TikTok would be a less obvious alternative (such as Microsoft),” the report said. Ho…
