According to Kantar, 52% of marketers will increase their spending on TikTok in 2021.
Advertisers are planning to invest their Q4 media budgets along with their 2020 remaining budget on experimental channels like social video app TikTok. The platform’s growth this year and its ability to reach younger audiences have already impressed advertisers.
Sam Gormley, founder of digital agency Osaka Labs, said business leaders of CPG category are pushing marketers to think and act more like their counterparts at DTC businesses. He added that marketers are being forced to measure new channels as opposed to tried-and-tested channels.
Advertisers are also shifting their focus from TV to TikTok to reach younger audiences who don’t watch TV. TikTok is expected to be among the online video market winners in the next 12 months as advertising dollars shift from print, TV and outdoor media to TikTok.
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