TikTok, nipping at the heels of Facebook parent company Meta which forecasts tough times for digital advertising, delivered a massive surge in Australian revenue last year.

Last month, TikTok Australia reported a 220 per cent jump in 2021 revenue to nearly $US50 million ($71.8 million), up from $US15.5 million from November 2019 to December 2020, according to accounts lodged with the Australian Securities and Investments Commission. TikTok launched its local arm in Australia in November 2019.