The rise of TikTok advertising coincides with a challenging period for Facebook. There’s a good chance TikTok will be the social network in the near-mid future. However, Facebook still has the larger user base and the larger spread of demographics among ages who spend the most money.
If you’re marketing to younger audiences, TikTok is already a crucial platform but Facebook (including Instagram) still holds a lot of power among Gen Z, Millennials and older age groups. This question also largely depends on your industry and who you’re looking to target within each age group.