TikTok Competitive Landscape

Part
01
of four
Part
01

TikTok Demographics

Most of TikTok's users in the US are men who are less than 24 years old. These individuals earn above $100,000 annually.

Age

Gender

  • More males use TikTok than females in the US.
  • Up to 55.6% of US TikTok users are male, while 44.4% are female.

Income

Location

  • A breakdown of TikTok users by US location could not be found.
  • According to Google Trends, searches for "TikTok" are mainly from Oklahoma, with a 100 rate of interest.
  • Other states with the most interest in TikTok include Missouri (99), Utah (99), Kentucky (99), Nebraska (98), Ohio (96), South Dakota (96), and West Virginia (96).
  • TikTok is most popular in China. Over 55% of TikTok users reside in this country.
  • The app has almost 200 million downloads in India, with the US being a distant second at 41 million downloads.

Additional Findings

RESEARCH STRATEGY

Marketing publications such as Hoot Suite and app-related publications like Business of Apps helped in gathering the age, gender, and income level of TikTok users in the US. However, the location of US TikTok users could not be found in these publications.

Next, we searched for any annual and quarterly reports by TikTok. This led to the revelation that it is owned by ByteDance. We then scoured annual reports by ByteDance. While their annual reports offered some relevant data on TikTok users, most of the information provided was specific to Asia, rather than North America or the US.

We proceeded to examine TikTok's website for any mention of this data. Its website only offered information on trending videos in the US. Nothing was offered on its US users. As a result, we used Google Trends as proxy.
Part
02
of four
Part
02

TikTok: Most Used App Features

Based on TikTok's current trending videos, the most frequently used features on TikTok include hashtags, music, effects, editing tools, and reactions.

Hashtags

  • The main driver for content on TikTok is hashtags. TikTok particularly has hashtag challenges. These challenges unite part of its eclectic content ecosystem.
  • Challenges like Tumbleweed Challenge, Lipstick Challenge, Haribo Challenge, Raindrop Challenge, and Fake Travel Challenge are recent hashtag challenges that have been used by influencers on the platform, large brands like Google, and celebrities like Jimmy Fallon.
  • These challenges also trended on other social media platforms, including Twitter and Instagram. The Tumbleweed challenge, for example, generated over 10 million engagements in less than one week.
  • The top 20 trending videos on TikTok - as per its website - incorporate hashtags.

Music

  • TikTok offers the ability to choose a song or song snippet from its music library. These songs can be used in videos.
  • Most TikTok users lip-sync a song from the platform's music library or simply use the song as background music.
  • TikTok curates music playlists for its users that include popular tracks and viral original sounds.
  • Sometimes, the music choice determines the virality of the video. Almost every viral video on TikTok is made with music or a sound clip.

Effects

Editing Tools

  • TikTok has several editing tools that allow users to cut, duplicate, trim, and merge videos without necessarily leaving the app.
  • These tools are used by several influencers to make entertaining videos.
  • Some of TikTok's current trending videos include smooth transitions to several other short clips, done with TikTok's editing tools.

Reaction

  • When a video is uploaded on TikTok, users not only watch these videos, they can add reactions to them.
  • Every current trending video on TikTok has some sort of reaction, mainly hearts.
  • Recently, TikTok launched another reactions feature. It allows users to record and share their reactions to videos.

RESEARCH STRATEGY

In order to determine the most frequently used features of TikTok - ranked by popularity, we first looked for an existing list of popular features on the platform. Marketing publications such as Hoot Suite and app-related publications like Business of Apps were examined. However, these websites simply provided a list of features TikTok has, there was no mention of which are the popular ones.

Next, we searched for any annual and quarterly reports by TikTok. This led to the revelation that it is owned by ByteDance. We then scoured annual reports by ByteDance. While their annual reports offered some relevant data on the features on TikTok, most of the information provided was specific to Asia, rather than North America or the US.
We proceeded to examine TikTok's website for any mention of this data. Its website only offered information on trending videos in the US. As a result, we analyzed the 25 most recent trending videos in the US and selected the features used in most/all these videos.
Part
03
of four
Part
03

Competitive Landscape - Part 1

Instagram was launched in 2010, while Snapchat was founded in 2011, and Lasso was established in 2018. The user base, history, mission statement, reputation, most used features, and competitive advantage of these platforms have been entered into rows 3 to 5 of the attached spreadsheet.

Instagram

Lasso

  • In 2018, Facebook launched Lasso to compete with TikTok.
  • Lasso was launched less than a year ago. It has been downloaded 425,000 times to date, mainly by teenagers in the US.
  • Lasso's most used features include its ability to integrate/connect with Facebook and its hashtag tracking feature.

Snapchat

Part
04
of four
Part
04

Competitive Landscape - Part 2

Funimate is a video editor and video sharing platform that was founded in 2014, while Likee and Vigo Editor launched in 2017. The requested data on these platforms can be found in the attached spreadsheet.

Likee

Vigo Video

Funimate

  • Founded in 2014, Funimate is a mobile app that allows users to make "looping videos and animations with integrated music and text."
  • Used by more than 5 million people in the US, and 25 million people in over 80 countries, Funimate's user base is Gen Zers above 13 years old.
  • Funimate is both a social network and a video editor, compared to other video sharing platforms which are social media platforms alone.
Sources
Sources