Will This App Kill TikTok in 2023?

Fuzz Martin 0:00

Good morning, podcasters. Is there an app that is poised to take over Tiktok in 2023? There might be.

Fuzz Martin 0:14

Hi friends, my name is Fuzz Martin and three times a week I bring you a show about marketing, advertising, PR and social media topics or news for your podcast. Today we're going to be talking about the social media side of things. We're all well aware of TikTok, what's fun, it's easy to get trapped watching short videos longer than you want to. It's really become a great platform for people to express their creativity. And with 1 billion active users, it's definitely popular, but it's not the most popular. And according to DemandSage, it's not even in the top five. In fact, it's currently the seventh biggest social media platform. Can you guess whose first?

Fuzz Martin 0:59

Well, here we go. I'll run it down. Let me get up my bell.

Fuzz Martin 1:03

All right, here are the top 10 social media platforms as of December 6 2020, to number 10 telegram with 550 million users. Number nine Doyoun app similar to tick tock that's owned by the same people as TikTok. They have 600 million users. Number eight, QQ a Chinese social media messaging app that has 606 million users. Number seven, tick tock with 1 billion users. Number six WeChat with 1.26 billion users. All right, can you guess the top five? All right, here we go. Number five, Facebook Messenger, 1.3 billion users number for Instagram with 2 billion users. All right, now you're probably running in your head. If Instagram was number four, who are the top three? I think you're gonna get it wrong. But say them in your head right now. While you're listening, think about them in your head. And let's see if you get them right. You're ready. All right, the number three most popular social media app in the world right now. WhatsApp, with two plus billion users. Number two, its YouTube with 2.29 1 billion users. And the number one which I'm sure you got this one, right is Facebook with 2.9 billion users.

Fuzz Martin 2:41

By the way, if you're wondering where Twitter is, on that map, well, it's way down there. It's actually 16th. With 397 million users, it's behind Reddit, Snapchat and Pinterest. And a couple of other Chinese apps, Twitter actually only beats Quora on the list. And that's somewhat surprising to me.

Fuzz Martin 3:03

So again, TikTok has been killing it in the short form video space, but they're also greatly at risk of losing their footing in that space this year. Why? And to whom? Well, let's talk about it. If you're listening to the show, you're likely a creator or just super curious, but creators want to be paid. I know. That's shocking, right? You want to get paid for the work you're doing. TikTok has this thing called the TikTok creator fund. It pays creators for their high performing content. It's only available for creators in the US, UK, Germany, Italy, France and Spain. You have to have at least 10,000 real followers, they can tell if you've purchased them and they won't let you in. And your videos have to have reached 100,000 authentic views in the 30 days before you apply for the tic tac creator fund program. They started the program with a pool of $200 million that they were going to give out to those creators. And then they said that it was going to increase to a billion dollars over the next three years. Reports say that they're paying about two to four cents, on average per 1000 views. That means if you get a million views, you're getting 20 to $40 Woohoo, don't spend it all in one place. That said the most high performing Tiktok creators make their real money on sponsorships.

Fuzz Martin 4:28

However, a another platform is sneaking in to try to take that over. So who might kill Tik Tok? Is it Instagram Reels? Is it Facebook? Is it Elon Musk? Tune in to find it. No. I'll tell you right now it's YouTube.

Fuzz Martin 4:47

Starting in January, YouTube is going to pay YouTube shorts creators not everyone but those who are part of their partner program and hit certain metrics. They're going to pay them 45% of their ad revenue. To creators, the way that works out it will be approximately 10 times what TikTok is paying their Creator fund. And there's no artificial cap like the TikTok Creator Fund has. So it's great for content creators in that they're going to get paid more money. But also, people are more likely to subscribe to you on YouTube, through your YouTube shorts. But when they subscribe to your YouTube shorts, they're also subscribing to your long form content, which means that any long form videos that you put out will get in front of your subscribers as well. So creating YouTube shorts, has the opportunity to make creators more money and get people to see more of their videos. But Fuzz, won't creators just create on both? Of course they will. But who are the big creators like Charli D'Amelio, Addison Rae, Kabe Lame? Who are they likely to post on the one paying them 1x Or the ones that are paying them? 10x Plus getting them more reach? And when those stars start moving over to YouTube? Where are the fans gonna go? And when the fans go to YouTube, who wins YouTube, of course, we'll see how it all plays out. But I think YouTube has made a killer move by introducing shorts. So that's something for you to keep an eye on in 2023. And as a creator, if you're on Tik Tok, and you're just starting off on TikTok, you may have an opportunity to get in on the ground floor of YouTube shorts before they really turn on the spigot in January, and we start seeing some of those changes.

Fuzz Martin 6:34

And that's it for today. I appreciate you listening to Good Morning, Podcasters. Links to some of the various data that I quoted will be in the show notes. Tune in tonight for the Podcasting Power Hour. That's Monday night. If you're listening to this the day that this episode drops. That's Monday, December 12. I'll share the links on the @gmpodcasters Twitter page. Podcast Power Hour starts at 9pm. Eastern, I'll be there Jeff Townsend from Podcasting Sucks and also from Indie {odcaster. He'll be joining us. We've got Greg from Indie Drop-in lots of stuff going on again. 9pm Eastern on the podcasting Power Hour on Twitter spaces. Maybe we'll get a fraction of that 397 million Twitter users.

Fuzz Martin 7:17

All the episodes of Good Morning, Podcasters are available and goodmorning pod.com And New episodes come out every Monday, Wednesday and Friday. Thanks again for listening, and we'll talk to you real soon. Right here on Good Morning podcasters