Streaming providers vs. TikTokThe report also looked at iPhone users and cross-app video streaming usage beyond Netflix. Disney Plus and Hulu saw the most crossover followed by TikTok – ahead of the likes of Twitch and Amazon Prime. TikTok saw the greatest two-year growth ahead of platforms.
“Traditional streaming providers are not only competing against each other but we also see these platforms competing with other apps like TikTok for increasing mindshare. Beyond impacting both the social media and the entertainment competitive space, TikTok has implications in the advertising space. Given TikTok’s rapid growth in time spent in the app, global user base and strong affinity among Gen Z, it is poised to capture attention for its advertising capabilities.
“However, it is important for brands to consider the subject and format of their ads given TikTok’s videos are user-generated and often consumed in vertical format. Highly polished video ads made for television (in a landscape format) may not work well on TikTok. Investing in content that feels authentic and filmed in portrait mode could be important to both not disrupting the user experience and seeing optimal performance metrics,” commented Lexi Sydow, senior marketing insights manager at App Annie.User-generated video content is another trend in the social space that grew last year. TikTok has grown to become both a social networking app and a source of entertainment, showcasing short, user-generated videos, often featuring lip-syncing or comedy. “Snapchat, Instagram, TikTok all leverage user-generated video content to drive engagement largely in one-to-many standpoint, but also in one-to-one comms. Video consumption on mobile is large across the board — entertainment, sports, news, etc — and is a powerful way of engaging consumers on-the-go,” Sydow said. With consumers spending three hours a day on mobile, it’s clear how vital this platform is for all businesses in 2020 and beyond.