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New Delhi: After 15 seconds of fame, millions of Indians are hooked on TikTok and the success of the small Chinese video sharing app, despite controversies and calls for regulation, has forced the big digital giants to embed short videos on their own platforms.
TikTok is available on 150 markets, in 75 languages and has over 700 million monthly active users worldwide (of which more than 200 million in India) in just one year, compared to 300 million Indian users existing on Facebook.
Platforms such as Instagram and Facebook are facing stiff competition from TikTok in the country. The owner of TikTok now plans to invest $ 1 billion in India despite calls for the ban on enforcement.
According to Meenakshi Tiwari, prediction badyst at Forrester global market research firm, TikTok was able to monetize its offering within one year of its launch using various revenue models, such as integrated coin buying. and virtual gifts, advertising accounts for most of its products. returned.
Similar to Instagram and Snapchat, TikTok invests heavily in influencer marketing.
"TikTok has launched new advertising formats, such as branding for full-screen vertical display, streaming native video and hashtags, which provide a more immersive and interactive platform for marketers," said TikTok. Tiwari told IANS.
One can imagine what Facebook should think: to quickly boost TikTok's growth, otherwise the Indian market would slowly abandon its main platform and the photo sharing instagram.
Last November, Facebook quietly launched a stand-alone application called "Lbado" to compete with TikTok.
On Lbado, currently available in the US, users can register themselves by dancing and synchronizing their lips with music, in the same way as on TikTok.
"Lbado is a new stand-alone application for short, entertaining videos – from comedy to beauty to fitness – we're excited about the potential here and we'll get feedback from users and creators." Facebook spokesman had told The Verge.
Last week, Facebook recruited Jason Toff, a former Google employee, into a key portfolio. Rumors are rife about the social media giant preparing for the global launch of its short video-sharing app.
Toff, who previously worked for Twitter's short video-sharing service, Vine, which was shut down, has joined Facebook's director of product management to lead the company's team in charge of the company. New Product Experiment (NPE), which aims to develop experimental applications for consumers who are still distant from the market. heart of the Facebook brand.
According to Prabhu Ram, director of the Industry Industry Group (IIG) and CyberMedia Research (CMR), the boom in applications such as TikTok's Bytedance is testament to the underlying fatigue of consumers, their desire and the need to express themselves by experimenting with new applications and platforms.
"By focusing on vernacular languages, TikTok has enabled Indians around the world to share their talent with the world.With its first-mover advantage, coupled with a fast growing organic user base, Bytedance n & # # # "Do not hesitate to fight Facebook's global domination," Ram told IANS. .
TikTok is rapidly expanding its ecosystem to protect its users from "mini programs" and, perhaps, a smartphone with pre-installed applications in China.
"For Facebook, it is imperative to thwart TikTok's growing competition.However, its previous attempts to create a TikTok clone have failed.More significantly, Facebook's reach in India does not extend to beyond urban India of levels II and III, "Ram pointed out.
As Mark Zuckerberg, CEO of Facebook, pointed out when calling the first quarter 2019 results, the meaning of social media is changing in the world today and more and more people are turning to private social media such as WhatsApp, Snapchat and Instagram.
Zuckerberg is soon to launch a TikTok rival, "otherwise, time could miss Facebook having a product that will enthrall India," Ram said.
Unless TikTok is banned permanently in the country following a series of complaints, it seems that nothing comes to stop this Chinese application.
This story was published from a news agency thread without text modification.
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