Since its global launch in 2016, TikTok owned by ByteDance has attracted more than 1.12 billion monthly active users worldwide, according to the famous SEO site Backlinko. American users spend an average of 108 minutes a day on the app.
TikTok's success has reshaped the social media landscape, forcing competitors like Meta and Google to shift their strategy to short-form videos.
′′This is the Internet center for young people. That is where they go for entertainment, news, trends, and even shopping. TikTok shapes the melody for everyone else, Jasmine Enberg, VP and senior analyst at Emarketer, said of TikTok.
platforms like Instagram Reels and YouTube Shorts have expanded, launching new features, creators' tools, and even considering separate apps just to compete.
Microsoft is also conducting tests with TikTok-style data sources. But with TikTok continuing to grow, adding features like integrating e-commerce and longer videos, the question remains whether its competitors can keep up?
But this growth has its downside.
As the consumption of short-form content skyrockets, experts warn against narrowing attention and increasing concerns about mental health, especially among younger users.
Researchers such as Dr. Yann Poncin, Associate Professor at the Center for Child Studies at Yale University (USA), pointed out that disrupted sleep and increased anxiety are associated with the habit of watching endless pages of pages.
Despite their sky-high level of interaction, making money from short videos is still a tough battle. Unlike long-form YouTube content, where ads can be inserted seamlessly, short clips provide limited space for advertisers. Creatives are also feeling the pressure.
Last year, TikTok estimated to have generated $23.6 billion in advertising revenue, according to statistics website Oberlo. However, even with this growth rate, many creators still only earn a few USD per million views.
YouTube Shorts pays about four cents for every 1,000 views, less than its feature-long partner. Meanwhile, Instagram has relied on brand partnerships and emerging tools like Tonal Reels, allowing creators to experiment with content by initially sharing videos with non- followers, giving them a small chance to experiment with new formats or ideas before deciding whether to share them with all of their target audience.
According to CNBC, if TikTok faces restrictions in the US, Meta and YouTube will benefit, as they can hold 50% of the advertising money on their video formats.
