Tik Tok’s internal and external troubles.
According to the Wall Street Journal, Facebook’s Instagram offers rewards to Tik Tok creators who have millions of followers to persuade them to use Instagram’s new short video service Reels. According to people familiar with the matter, potential rewards for some creators will reach hundreds of thousands of dollars, and those who agree to only post videos on Reels will get more paid.
Reels is a new feature of Instagram that allows users to upload short videos, and is seen as a benchmark for Tik Tok. Reels was first tested in Brazil in 2019 and then launched in Germany and France. After India banned Tik Tok at the end of June, Instagram quickly expanded Reels to this market. In addition, Instagram has also confirmed that Reels will be launched in the United States in early August.
As early as 2018, Facebook launched a “copy” of Tik Tok, Lasso, but its performance was mediocre, and it ended dismal and was shut down in July this year.
Since going overseas in 2017, Tik Tok has become the most successful social app in China. According to a report by the data analysis platform Sensor Tower in April this year, Tik Tok’s global downloads have exceeded 2 billion, of which more than 165 million downloads in the United States.
Analyzed by YouTuber Sidewalker Daily, when Instagram has gradually become a social tool for showing status and showing off, Tik Tok is more like a platform for showing personality and multi-faceted life .
Followed by American teenagers, it is not surprising that Tik Tok is regarded as a competitor by Facebook and Instagram. Last October, in an internal Facebook meeting, Zuckerberg admitted that Tik Tok has performed well all over the world, “it is the first real consumer Internet product launched by a Chinese technology giant.” But he also believes that Lasso can fight Tik Tok, and subsequent data shows that Tik Tok’s growth rate has exceeded his expectations.
On the contrary, Tik Tok has suffered in the United States and India this year.In the face of the ban crisis, Bytedance’s globalization strategy has been severely tested, and Facebook seems to usher in an unexpected opportunity to fight back.
For now, Reels may not be able to completely replace Tik Tok. Yaap’s Khan analysis believes that as a new feature, Reels is still relatively limited in scope, and it is difficult to be evenly matched with Tik Tok, which has established a rich content library and unique modules. Zuckerberg may finally realize that the key to the rise of Tik Tok is not in the form of short videos, but in the form of a group of content creators. The Matthew effect formed by the latter is the moat of the platform.
Use cash to attract big Vs and celebrities. This trick is being used by domestic competitors of Douyin, but the effect is not obvious. Whether Facebook can take this corner to overtake is also a question mark.