TikTok has been the app to watch since its increased popularity in 2018. Earlier this week App Annie released its annual review of the top-performing acts measured by downloads and revenue. The results placed TikTok in the first place, confirming the app’s dominance in the social media world. In the picture below you can see data from last year’s review placed TikTok in second place in terms of breakout downloads. You can view the full report here.
From the data above it’s clear that TikToks competitors were CapCut, YouTube, and Telegram.
The App Ann review from this year told a different story. Below is the performance review with TikTok as number one in terms of overall spending.
This data proves that TikTok is in a strong position for growth specifically towards the apps eCommerce ambitions, however, this growth will rely on TikTok’s ability to pay its content creators. This payment is what will motivate the content creators to keep posting on TikTok and not another platform. Brand deals with content creators are in high demand. Content creators know this which is why they won’t hesitate to use a different platform if the pay is better.
TikTok has become a threat to many social media apps. With the potential to surpass 1.5 billion users in 2022 they could easily become the biggest social media platform. I believe brands, media companies, and content creators should all be paying attention to the company’s rise.
Brands that haven’t yet incorporated the use of TikTok should start learning how to now. TikTok has a large audience reach. Brands’ failure to adapt will cause them to lose out on money and risk them being left out of or playing catch-up to the latest trends. This could open up more jobs for those who specialize in everything TikTok.
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