While TikTok Deal Remains Uncertain, Walmart Expands Ad Business

By Sheridan Fifer

Last year, Walmart made the decision to bring its advertising business in-house. The result was Walmart Media Group, the retailer's answer to Amazon's dominance in the advertising space. One source told Reuters that Walmart Media Group is set to bring in $1 billion in ad sales this year, or more than double what it brought in last year. The growth comes at a time when Walmart is seeking to expand its ad business further with a stake in video-sharing app TikTok. But the retailer isn't waiting around for the prospective deal to become a reality. Analysts say that a failed TikTok deal wouldn't be a disaster for Walmart, but that a successful one could certainly help make the retailer more competitive in the advertising space. 

“It’s going well, and they want it to go very, very well,” the source said. “There have been very material gains but it doesn’t yet put a dent in Amazon’s lead or Walmart’s top or bottom line.”

Read the full story at Reuters.