Social video TikTok sets the pace
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Social video is optimising lean-through engagement for digital natives, with simple editing features, filters, and music. Value for younger digital natives (those aged lies in co-creation, sharing and liking. User-generated content (UGC) creation has contributed to the success of short-form video, as users seek to have an impact within social media ecosystems through creating and sharing unique experiences. TikTok is driving this lean-through consumer behaviour, with weekly active user (WAU) engagement for the platform increasing by between 2020 and 2021. Despite this, TikTok monetisation still lags behind social video leader YouTube, which generated billion in ad revenues 2021. This contrasts with the MIDiA estimate of billion total TikTok revenue generated in 2021. Optimising lean-through monetisation will help close the gap for TikTok.
Methodological note:
- MIDiA Research social video as user-generated content video content that is uploaded, and engaged with on social apps
- MIDiA Research ‘lean in’ as interactive consumption likes, comments, Facebook shares, etc.)
- MIDiA Research ‘lean through’ as creative behaviour to consumption (creating replica and user generated content (UGC) for on social apps)
- MIDiA Research younger digital natives as those
- MIDiA Research older digital natives as those
Companies and brands mentioned in this report: ByteDance, Dubsmash, Facebook, Fit Analytics, Instagram, Musical.ly, Shopify, Snapchat, SoundOn, TikTok, Twitch, Twitter, Vine, YouTube