Currently, the future of TikTok is still uncertain. However, a new report sheds light on the explosive success of the TikTok economy since its launch in 2018. The report, by analytics firm Oxford Economics, is entitled ‘Measuring the Number of Jobs that benefit from US Businesses using TikTok.’
One of the most striking stats to come out of the report is that, in 2024, 4.7 million US jobs “benefitted from a TikTok business account.” Specifically, the report found that there were more than 3.1 million jobs directly using TikTok in their work.
On the flip side, the report states that 1.6 million workers indirectly benefitted from using TikTok. In a blog post, TikTok cites examples such as “lead generation for sales teams, customer engagement for marketing, or product teams examining user feedback on the platform.”
74% of US businesses also report that TikTok helped them scale their operations.
What Did Oxford Economics Discover About the TikTok Economy?
The report claims that 7.5 million US businesses, ranging from sole proprietors to global corporations, have an active TikTok account.
“TikTok’s impact on the US economy continues to expand, with millions of small and mid-sized businesses using the platform to reach new customers, increase engagement, and create jobs,” Blake Chandlee, President of Global Business Solutions at TikTok, said in a statement.
“The latest Oxford Economics report underscores this growing influence, estimating that 28 million people are employed by businesses that leverage TikTok’s features. The platform isn’t just a tool for brand awareness—it’s a catalyst for real economic opportunity, fueling job growth and innovation across the country.”
Laurence Wilse-Samson, Lead Economist at Oxford Economics, added that “the survey findings and an analysis of TikTok’s business account data suggest that millions of people in US businesses are either directly using the app as part of their jobs or benefit from the leads and opportunities it creates.”
Yet, as brilliant as these statistics are, there’s a pretty big elephant in the room. What if TikTok really goes dark this time? If it does, millions of businesses and people will have a lot to lose.
