TikTok, Netflix, and the Future of Media: Key Insights from 2024's Biggest Winners
In 2024, the global media landscape experienced monumental shifts, with platforms like TikTok and Netflix setting unprecedented benchmarks in user engagement, ad revenue, and growth. These powerhouses didn’t just dominate; they redefined the rules of video consumption and revenue generation. Let’s dive into the numbers and trends that shaped the year.
TikTok: A Cultural and Financial Powerhouse
By the end of 2024, TikTok achieved staggering milestones:
$8 billion in ad revenue in the U.S.
$63.3 billion in global ad revenue, nearly doubling YouTube’s $33.3 billion.
1.9 billion monthly active users (MAUs) worldwide, with 145 million in the U.S.
This growth solidifies TikTok’s dominance, particularly among 18-35-year-olds, where it leads alongside YouTube. Even more telling, TikTok has become a central platform for Hispanic communities in the U.S., where engagement rates surpass those of non-Hispanic users.
But it’s not just about mobile videos. The platform’s cultural resonance extends across age groups:
17% of U.S. users aged 55-64 reported using TikTok.
A significant 92% of TikTok users also use YouTube monthly, with 61% engaging daily.
Senior Research Director María Rua Aguete of Omdia commented on TikTok’s ubiquity:
“Should a TikTok ban occur, millions would likely increase engagement with YouTube, Instagram, and Facebook – platforms already benefiting from this possibility.”
The Battle for Screens: YouTube’s TV Momentum
While TikTok dominates the mobile experience, YouTube is making headway on larger screens. Over 52% of YouTube viewing in the U.S. now happens on TVs, showcasing a shift toward immersive viewing experiences in living rooms.
This transition highlights the evolution of how audiences consume video content, making YouTube a major player not just on mobile but across all screens.
Netflix’s Stronghold in Latin America
Netflix, the global leader in subscription video-on-demand (SVOD), maintained its position as the top platform in Latin America. Here’s a snapshot of its dominance:
48% of SVOD revenues in the region come from Netflix.
Followed by Disney (12%) and Paramount (8%).
Key growth markets include Mexico and Brazil, bolstered by investments in Spanish-language originals.
Despite criticisms over Netflix’s content strategy, Rua Aguete sees it as a leader for the next five years:
“Netflix is and will remain the No. 1 player globally. In Latin America, its investments in local content have paid off tremendously.”
The Rise of Latin America as a Growth Region
Latin America is emerging as a media growth hotspot.
The region is expected to grow 9.4% in 2025 to reach $55 billion.
In comparison, the U.S. market is projected to grow by just 3.3%.
This growth is driven by increasing SVOD subscriptions, ad revenues, and the rise of FAST (free ad-supported TV) platforms. FAST revenues in Latin America could grow from $231 million in 2024 to $569 million by 2029.
Pay TV: Not Dead Yet
While pay TV is in decline in the U.S., it remains a critical channel in many regions globally. Rua Aguete emphasized the importance of continuing to engage with pay TV players as part of a comprehensive media strategy.
What This Means for Media in 2025
The media trends of 2024 reveal two key lessons for marketers, brands, and creators:
Diversify Your Platforms: TikTok, YouTube, and Netflix lead the pack, but each caters to different audiences and screen preferences. An omnichannel strategy is essential.
Focus on Emerging Markets: With Latin America outpacing global growth rates, investing in localized content and ad strategies will pay dividends.
As we step into 2025, the question remains: Will TikTok’s momentum continue, or could challengers disrupt its dominance?