TikTok has taken the world by storm since its global launch in 2017. Originally launched as Douyin in China in 2016, the app quickly gained popularity for its short-form videos and pioneered the “react” genre that has now become ubiquitous across social media. By 2021, TikTok hit 1 billion monthly active users globally, cementing its place as one of the top social platforms in the world.
Several factors contributed to TikTok’s meteoric rise. Its algorithm is extremely effective at serving relevant and engaging content to each user. The app makes it easy for anyone to create, upload, and share short videos. TikTok also benefitted from strategic partnerships and acquisitions of competitors like Musical.ly. Additionally, TikTok capitalized on trends driven by its community of creators, keeping its content fresh, creative and aligned with pop culture. This unique combination of technology, content, and community led to TikTok’s success.
TikTok’s Challenges
One of the biggest challenges facing TikTok is issues around content moderation. Moderators have faced trauma and mental health struggles dealing with disturbing content on the platform, according to reports. A Bureau of Investigative Journalism article found moderators were subject to “relentless graphic content” with inadequate psychological support, citing interviews with moderators (“Behind TikTok’s boom: A legion of traumatised, $10-a-day …,” n.d.).
Former TikTok moderators have also filed lawsuits claiming negligence and lack of worker protections, with a federal judge allowing a suit to move forward in May 2023 (Judge advances TikTok moderators’ suit over harm from …,” 2023). This highlights the human toll of moderating harmful content.
TikTok will need to improve content moderation policies and worker supports to better protect both users and moderators if it wants to sustain growth.
Competitors
One of the biggest competitors to TikTok is Instagram Reels. Instagram launched Reels in August 2020 as a way for users to record fun 15-30 second video clips set to music or other audio and share them with followers. Reels has many of the same creative editing tools and features as TikTok, allowing users to stitch multiple clips together, use audio, and add filters and effects.
According to several reports, both Instagram Reels and TikTok have seen massive growth, but TikTok still retains an edge in overall usage and popularity. As of July 2023, some key comparisons between the platforms include:
- TikTok has around 1 billion monthly active users, while Instagram Reels likely has around 500-700 million.
- TikTok’s algorithm is better at showing relevant content to users and helping videos go viral.
- Instagram Reels caters to a slightly older demographic that often values high-quality content.
- Both apps are rapidly evolving and adding new features for creators.
While Reels presents strong competition, most analysts believe TikTok still has the advantage when it comes to the short-form video space thanks to its algorithm, youthful demographic, and success at tapping into viral culture. However, Instagram offers creators access to established brand partnerships and monetization opportunities that may eventually make Reels the more lucrative platform (source). The battle between the two apps will likely continue as they aim to attract top creators and users’ attention.
New Platforms
Lomotif, Firework, and Triller are some of the newer platforms that are emerging as potential competitors to TikTok. According to Craft.co analysis, Lomotif is one of TikTok’s top competitors having been acquired by ZVV media in 2021. The app has gained over 225 million downloads globally and is popular in India and Southeast Asia. Firework is a fast-growing short video app that has raised over $170 million in funding. It differentiates itself by focusing more on user-generated shoppable video content. Triller exploded as a TikTok alternative during the TikTok ban in 2020, amassing over 250 million downloads. While growth has slowed, Triller continues to iterate with new features like AI editing to compete.
Live Streaming
Live streaming has exploded in popularity in recent years. Platforms like Twitch, YouTube Live, and Facebook Live allow creators to broadcast content in real-time to audiences around the world. Twitch is the leader in live streaming gaming content, with over 2 million monthly streamers as of 2022. YouTube Live is preferred by many for streaming live events and Facebook Live enables brands and public figures to engage followers through real-time video.
The live streaming industry is projected to grow to over $3 billion by 2024. Key factors driving this growth include improving video quality and internet speeds, increased smartphone penetration, and consumer demand for immersive, interactive content. Brands are also leveraging live streaming for product launches, conferences, and behind-the-scenes looks. The real-time engagement and community building offered by live streaming presents opportunities for diverse types of content beyond gaming.
VR and AR
Virtual reality (VR) and augmented reality (AR) technologies are emerging as exciting new frontiers for social media platforms. As Catalyst states, “Augmented Reality has rather predictably exploded on Social Media with Facebook reporting over one billion people now interacting with AR effects each month.” These immersive technologies provide more engaging and interactive experiences for users. Social platforms like Snapchat, Instagram, and Facebook are already integrating AR filters and lenses into their apps. New capabilities like virtual try-ons allow users to visualize products in AR before purchasing.
According to Audiense, “Utilizing VR and AR in social media campaigns can help generate buzz and attract attention to a brand.” As VR/AR headsets become more accessible, they present opportunities for virtual world-building and social connection. Platforms are beginning to support VR spaces where users can interact and explore together. While still nascent, immersive social environments could represent the next evolution in digital community. Overall, integrating AR and VR creates more interactive, visually engaging experiences that resonate with users.
Personalization
Personalization will continue to be a major trend as platforms leverage AI and machine learning to provide users with customized experiences. According to NineTailed, AI-driven personalized recommendations are a key trend to watch in 2024. Platforms will get better at understanding user preferences and interests in order to serve hyper-relevant content. Facial recognition may also be used to identify users and tailor experiences. There are risks around data privacy that platforms will need to navigate carefully. However, the potential benefits of relevant recommendations and customized interfaces will drive continued innovation in this area.
New Features
Platforms are constantly evolving, with companies racing to introduce the latest must-have features. Live streaming has exploded in popularity lately, allowing creators to engage with audiences in real time and users to broadcast their daily lives. While TikTok recently announced TikTok Live Studio for professional live streaming, competitors like Instagram and Snapchat have also leaned into live broadcasting.
Similarly, in-app shopping has emerged as a major trend. Social platforms want to facilitate everything from product discovery to checkout within their apps. TikTok just introduced TikTok Shop to let creators share links and sell products directly. However, Instagram and Facebook have offered in-app shopping for years. Even YouTube enables merch shelves below videos.
Lastly, mini-games and interactive experiences aim to boost engagement and time spent in the app. TikTok’s sticker-based Dall-E art generator went viral as users created images from text prompts. Similarly, apps have leaned into augmented reality effects and filters to gamify the experience.
Privacy
As social media platforms gather more user data, there has been a growing demand from users for more control over their privacy. A recent study from the University of Southern California found that users who feel their privacy is invaded on social media experience more fatigue from using these platforms. Platforms like Facebook and Instagram have faced backlash for privacy violations, with some users deleting their accounts. This has spurred new social media entrants to make privacy a key selling point.
New platforms are emerging that emphasize user privacy and data protection. For example, Discord allows users to control who can access different chat rooms and messages. Platforms like Mastodon are open source and decentralized, making user data harder for companies to access or exploit. As legacy platforms continue to struggle with privacy, new privacy-first options may attract users looking for more control over their data.
Conclusion
In summary, while TikTok has dominated the short-form video space in recent years, competitors and emerging platforms present challenges to its continued growth. Companies like Instagram and YouTube are implementing TikTok-like features and vying for market share. At the same time, new players like Lomotif and Firework offer fresh spins on short videos. Live streaming platforms like Twitch are seeing increased popularity, especially among younger audiences. And innovative technologies like VR and AR have the potential to transform social media into more immersive experiences.
As we look to the future after TikTok, the social media landscape will likely include a wider variety of short-form video apps with unique selling points. Personalization and customization will become even more important. Privacy and data protection issues may also come to the forefront. While TikTok seems poised to continue its dominance for now, its long-term outlook will depend on how well it adapts to these industry shifts and innovates amid rising competition. The next big thing after TikTok is far from certain, but creativity, originality and understanding user needs may ultimately decide who comes out on top.
