ByteDance, the company owning several popular apps in China including TikTok and Toutiao, has surpassed Baidu in the first half of 2019, becoming China's second-largest digital advertising media business, according to the latest report of consulting firm R3.
ByteDance now accounts for close to a quarter (23%) of China's digital advertising market, close to 50 billion yuan in H1 2019.
Chart: China Digital Ad Market Share 2017-2019
Alibaba won the first place in digital advertising media business, accounting for 33% of the market share, equivalent to 72.1 billion yuan. Baidu and Tencent each accounted for 17% and 14% of the market share, respectively, equivalent to 36.9 billion yuan and 29.8 billion yuan.
According to the report, in the first half of 2019, ByteDance advertising r...
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