Democracy Dies in Darkness
The Creator Economy

TikTok claims its contribution to the economy is huge

TikTok contributed $24.2 billion to U.S. GDP last year and drove $14.7 billion in small-business owners’ revenue, according to a report TikTok funded

By
March 13, 2024 at 12:55 p.m. EDT
Participants support of TikTok at a news conference outside the U.S. Capitol on Tuesday. (Anna Moneymaker/Getty Images)
2 min
correction

After this article was published, the article and the headline were updated to include the fact that TikTok paid for the study conducted by the economics consultancy Oxford Economics.

TikTok drove $14.7 billion in small-business owners’ revenue in 2023 and contributed $24.2 billion to U.S. gross domestic product last year, according to a company-paid report issued Wednesday.

The report, by the economics consultancy Oxford Economics, found that TikTok supports a minimum of 224,000 jobs in the United States, with the app’s greatest economic impact seen in California, Texas, Florida, New York and Illinois.