China based TIkTok video sharing app is a new age platform, enabling users to create diverse content such as comedy, talent videos as well as lip sync content and short dance videos. The app is touted to have amassed whopping revenue worth over $7 billion in 2019 and is likely to follow the same trend in 2020.
In recently taken steps, video app YouTube owned by Alphabet has affirmed its recently investments towards developing a competitor platform intended for video making and sharing, under the Shorts. Two of YouTube’s spokespersons disclosed that YouTube’s maiden venture is likely to be rolled out in the trailing months of this year. The initial plans that YouTube is likely to follow is to offer users with a multitude of ready-to-use catalog of songs and music already licensed that users can easily use in their short video clippings. The approach is likely to position YouTube favorable in the competition spectrum.
This massive step by Alphabet’s YouTube is likely to be passed as a pioneering step in the growth road map and is entitled as the very first initiative to directly challenge TikTok professionally. ByteDance owned TikTok was initially launched in 2016 across China, followed by a worldwide launch in 2018, with continued episodes of success, adding to its global community of users which has been rising exponentially.
TikTok has been witnessing easy success ever since its launch and has steadily remained the third most downloaded app just a little behind social networking app Facebook and WhatsApp. Following suit as Google, it is also rumored that Facebook is not much lagging behind in trying to launch TikTok competitor in the coming time with its venture, Lasso targeting teens. AT the backdrop of fading Facebook users across young adolescents and teens, the social networking app is striving to win over lost charm with novel video shooting app.
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