TikTok, owned by ByteDance, allows users to share short-form video content. (Stock image) While YouTube is spending time convincing the industry that its platform is akin to traditional forms of television, a new report from WARC Media says the service is facing stronger competition in the advertising space from social platform TikTok. TikTok is on track to surpass YouTube in global advertising revenue by 2030 as marketers increase spending on s…