According to fresh data from ad-sales intelligence company MediaRadar, advertisers in the media and entertainment industries invested more than $1 billion in TikTok in Q4 2023.
Brands spent billions of dollars on TikTok, with video games, online gaming, and subscription streaming services accounting for approximately 30% of the total ad spend.
Other top categories, according to MediaRadar, included merchants, who spent over $500 million on TikTok, and technology marketers encompassing electronics, software, and telecommunications, who spent $314 million.
READ MORE: The TikTok Licensing Agreement Is Being Terminated By Universal Music Publishing Group
The aggregate ad expenditure on TikTok in Q4 2023 was 43% greater than the $805 million spent in Q1 2023.
According to MediaRadar’s report, which tracked in-feed image, carousel, and video ads captured from a panel of over two million US users in 2023, there were an average of 11,800 companies advertising on TikTok in 2023, with more than 13,000 advertisers on the video-sharing platform each month between May and August.
READ MORE: For Kids Aged 2 To 18, TikTok Surpasses YouTube In Terms Of Total User Minutes
The top advertisers in 2023 were Amazon.com, Apple, Comcast, DoorDash, and Disney. These companies spent a total of $284 million this year.
Universal Music Group removed its music from TikTok on February 1 after failing to secure a new agreement on usage rights, depriving the platform of popular music by artists such as Taylor Swift, Drake, and Billie Eilish, as well as a slew of viral videos that accompany those songs. The decision was widely regarded as a significant setback for TikTok, which had emerged as a pioneer in music discovery.
While MediaRadar’s data reveal that sponsors have continued to boost their spending on TikTok, these figures were gathered prior to the app’s disagreement with Universal.
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