In the ever-changing landscape of social media TikTok is a relatively new entry. It is a short-video social media app that has been downloaded more than 800 million times worldwide.
Users can create 15-second long videos with lip-syncing, animations, dance, musical, comedy and acting. Then the users can use the app’s capabilities like special effects, stickers and AI-based filters to make the videos look well made. All sorts of short-form video content have been shared on TiKTok and have created its ecosystem separate from other social apps like Instagram, Facebook, Twitter, and SnapChat. It has its own celebrities that have millions of followers. Some of the most followed TikTok accounts are twins Lisa and Lena, Baby Ariel, Jacob Sartorius, and Loren Gray. Brands and record producers have started collaborating directly with the app and its celebrities to showcase its products and music to millions of app users.
TikTok is known as Douyin and was launched by Chinese Internet technology company ByteDance. It was launched in China in September 2016 and quickly began a hit among Gen-Z in South East Asia. To expand further into US market ByteDance acquired short video making app musical.ly for $1 billion. TiKTok was merged with musical.ly on 2nd August 2018 to create a larger social video sharing community. ByteDance also worked towards the monetization of music by partnering with Universal Music Group, Warner Music Group, Taihe Music Group, and Touch Music Publishing and Modern Sky. ByteDance have recently been valued at more than $75 billion.