The video platform is also facing competition from other industry giants such as Meta and YouTube.
The download page for ByteDance Ltd.'s TikTok app is displayed on a smartphone in Sydney, New South Wales, Australia, Monday, Sept. 14, 2020. Photographer: Brent Lewin/Bloomberg(Bloomberg/Brent Lewin)
Bloomberg — Brian Esperon, a professional dancer, spread in August 2020 a 15-second video in TikTok with a dance sequence to the rhythm of WAP, the new explosive theme of Cardi B and Megan Thee Stallion, which surpassed 100 million views.
At the moment, has difficulty reaching even the 1% of that audienceThis dancer was one of the architects of the TikTok dance video trend, which became a mainstay of the American digital age. However, Like any other trend, it is on the decline.
This has affected the extensive network of sponsors, record labels, and personalities who invested their time and money in this audiovisual trend. While this isn't entirely negative for TikTok, It represents a new commercial era, less tied to small, little-known creatives and more tied to big stars and companies with deep pockets.
“On the Internet, nothing stays the same,” he notes. Jamie Cohen, Associate professor of media studies at CUNY Queens College. “For better or worse.”
TikTok, a unit of China's Bytedance Ltd., was already popular in Asia when the Covid-19 pandemic hit. The virus circumstances helped it gain traction in the U.S. Creators already on the platform, including dancers, Charli D'Amelio and Addison Rae, saw their follower counts increase as the newly homebound spent more time on social media.
However, the success of TikTok, which claims to have more than one billion monthly users, has created new obstacles. The algorithm built into the app, which offers new content to users in a personalized “For You” page, designed to identify TikTokers’ niche interests as it collects data about them. Users now see a wider variety of videos from more people.
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Esperon said it's harder to get noticed in this crowded environment. He regularly achieved viral success when he joined in late 2019, but has rarely been able to reach 1 million people with his videos this year. In June, D'Amelio lost his spot as the most popular account on TikTok to a creator named Khaby Lame., which posts humorous reactions to instructional videos.
It's also harder to allocate marketing dollars successfully, as dance videos are no longer a surefire hit.
“In the early days of TikTok, in particular, what attracted creators, especially smaller creators, It's this idea that they could achieve TikTok fame and go viral with just one piece of content.", said Jasmine Enberg, principal analyst at market research firm Insider Intelligence. Now, “TikTok is much more saturated.”
Many companies They are navigating the change by looking for creators who are already famous.. A dance video of About Damn Time of Lizzo became one of the app's most popular songs of the year, with a clip of Lizzo performing it herself seen almost 60 million times. (The dance itself was created by a choreographer named Jaeden Gomez ). Other chart hits of 2022, such as Unholy of Sam Smith, have had a similar participation of artists.
Some have dramatically simplified dances to capture the increasingly divided public's attention. Pandemic dance videos featured intricate routines crafted by professional choreographers. This year, a dance to the rhythm of Bejeweled of Taylor Swift went viral with just three movements: walk, spin and wiggle your fingers.
Against The Grain, a digital marketing agency that runs around 3,000 campaigns per year, began facilitating dance challenges in 2020. That kind of work, which typically involves paying TikTok creators to creating dances to certain songs has decreased by around 90% in two years, according to Omid Noori, who co-founded the company with Ramzi Najdawi. Your team is now focuses more on working with music curators and other influencers to capitalize on current trends.
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Others are spending money on other platforms who copied TikTok dance trends, such as Meta's Instagram Reels (GOAL) and YouTube Shorts, and are still adding users attracted to the short-form video genre. Typically, They pay influencers to make songs for certain dances or for platforms to increase the visibility of individual videos or hashtags.Esperon said she was paid thousands of dollars to participate in a dance challenge for K-pop group Blackpink on YouTube Shorts.
Without a doubt, TikTok remains extremely popular. The platform received nearly US$$10 billion in global revenue of marketers this year, according to an October report from Insider Intelligence and eMarketer. That number is expected to grow to more than US$1–4 billion by 2023. But the nature of the spending continues to change.
TikTok has added tools to attract new advertisers, including smaller ones without large marketing departments. For example, created a database of 800,000 creators and built search features that will connect them with advertisersThe platform also highlighted trends it believes will take off in 2023, including videos where people demonstrate a new product in an entertaining way or content that highlights personal care and social values.
Johnny Clohert , co-founder and CEO of Songfluencer, a music marketing agency that has produced work on behalf of artists such as Bruno Mars and Gayle, He said that companies are always looking to find the platform where their ads have the greatest chance of success.
The platforms have “a fire hose of money to spend,” he said. “I think we’re going to have another streaming war on our hands.”
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© Copyright, Bloomberg Line | Falic Media
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