The Verge published leaked audio of Zuckerberg’s comment on the app TikTok.
Zuckerberg confirmed the audio in his post and said that it was from a Q&A session he had with Facebook employees. He explained that the audio wasn’t meant to be shared publicly but since it’s already out, it can give people the behind-the-scenes of what’s happening in the social network’s headquarter.
TikTok’s growth among teens
ByteDance’s TikTok has been growing rapidly among younger users. As of writing, it already has 80 million subscribers in the U.S. and over 800 million subscribers worldwide. The app has even more subscribers than Instagram, particularly in India. Its immense popularity is proof that it is truly a leading destination for short-form mobile video.
The secret to its success likes according to Zuckerberg is its ability to combine the experience of video creation and video browsing in one platform. Similar to the Explore Tab on Instagram, TikTok highlights different videos of popular creators.
A new form of social entertainment
An analysis published in Techcrunch disagrees with Zuckerberg’s statement regarding TikTok. The app isn’t just a social media app, it is a new form of social entertainment that’s different from Instagram.
So far Facebook’s attempt to kill TikTok, Lasso, has proved to be ineffective. Lasso only had 425,000 downloads since it was launch in November last year while TikTok has 640 million installations outside China around the same time. Facebook creator acknowledges the competition but he also pointed out that while TikTok is growing, it’s also spending a huge amount of money on promotions.
Facebook’s next move
To gear up for TikTok’s growth, Facebook is putting its faith to its family app Lasso and working on how to improve it. In the transcript, Zuckerberg said that they’re trying to revamp the app to fit the market of the countries that TikTok hasn’t infiltrated much yet including Mexico. They are going to compete and bring their app to countries where TikTok isn’t yet big before they go and battle it out with TikTok in places where it dominates.
Another approach they’re making is to focus on Instagram’s Explore Tab and putting more emphasis on the stories function. Much like Facebook stories, it is expected that IG users will soon consume content more on their IG stories.
The competition isn’t that alarming yet for Zuckerberg but they are preparing for it nonetheless.
What does this mean?
Facebook is one of the biggest advertising platforms that dominate the advertising industry. However, TikTok is also now getting traction from brands and advertisers due to the audience it has. With its rapid growth, more and more brands will opt to spend some of their ads spend on TikTok rather than putting it all on Facebook. For more information on apps that could prove to be important in the future check out this article for more information.