TikTok: Are the Tiks and Toks Keeping Facebook and Google Execs Awake at Night?
July 1, 2022
Eric Schmidt made a comment that Qwant keeps him up at night. Ah, those were the good old days for Google senior management. Now, the TikTok noise is louder and getting louder. And the Zuck not only has to figure out what’s shakin’ with his investigation of his trusted sidekick, he has to sound proof the office against that annoying TikTok racking up clicks and ads.
I spotted a story called “TikTok App Turns on the Money Machine, Threatens Facebook, Google.” The source is linked, but, please, don’t contact me to complain that it has gone dead. If you cannot locate the story, just forget that I have mentioned it. If you do get the link to resolve, congratulations. Next you will become a search engine optimization wizard!
The write up is interesting because it contains some factoids I had not noticed in the last couple of weeks. Here’s a selection:
Here’s a good one:
the 22-year-old earns more than $100,000 a year on the short-video platform TikTok. Brands like Coach, Netflix and Amazon Prime Video pay up to reach her 9 million followers, mostly teenage and pre-teen girls who would not dream of visiting Facebook.
And another:
TikTok raked in nearly $4 billion in revenue in 2021, mostly from advertising, and is projected to hit $12 billion this year, according to the research firm eMarketer. That would make it bigger than Twitter Inc. and Snap Inc. combined — three years after it started accepting ads on the platform.
What about this?
Its average user in the US now spends about 29 hours a month with the service, more than Facebook (16 hours) and Instagram (8 hours) put together, according to mobile researcher Data.ai.
Plus this item about TikTok’s parent company:
ByteDance?s revenue hit an estimated $58 billion last year and its growth is faster than any other major social network.
Also this:
TikTok is diversifying into music distribution, game publishing and Twitch-style subscriptions. It?s also edging into e-commerce..
Facebook and Google talk big and act even bigger. The problem is the slope of TikTok growth. Going slowly in the growth department is not for TikTok.
Where’s that growth going to come from? The skin of the Zuck and the hide of Googzilla. Then TikTok will go hunting in the Amazon.
Stephen E Arnold, July 1, 2022
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