NEARLY six years since its initial release, TikTok has taken over the world.
Advertising on social media is now the norm as more people spend hours on their digital screens.
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How much do TikTok advertisements cost?
With advertisers seeking to buy ad space on the popular app prices are skyrocketing.
Measured reports that 2021 CPM prices were up by 185% year-over-year.
Advertising prices are increasing across many platforms such as Meta (formerly Facebook), Google, and Amazon.
Business Insider reports that TikTok’s ads are at an average CPM of $9.40.
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Using Measured’s data, the outlet reported that this price for TikTok is more than double Snapchat’s average CPM of $3.40.
Business Insider also reported that advertisers are seeking to gain the attention of the Gen Z audience.
What exactly is a CPM?
When it comes to online advertising the ad spaces are typically charged at what is known as a CPM.
Oxford Languages defines a CPM as a cost per mile.
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They break it down even further by explaining that a cost per mile is “the amount an advertiser pays a website per one thousand visitors who see its advertisements.”
Who owns the app TikTok?
The owner of the popular app is the Beijing-based company ByteDance.
Chinese billionaire entrepreneur, Zhang Yiming founded the company back in 2012.
The 38-year-old was named one of Time Magazine’s 100 most influential people in 2019, who described him as “the top entrepreneur in the world.”
Zhang Yiming has a net worth of $59.4billion, making him China’s second richest man, according to his Forbes profile.
ByteDance is also the most valuable start-up in the world.
In 2018 it surpassed Uber, and is now valued at nearly $400billion.
Yiming officially stepped down from his role as chairman of the Chinese technology giant on November 3, 2021, according to Reuters.
TikTok is listed on Appl’e “Must-Have Apps.”
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This post first appeared on Thesun.co.uk
