The brief kind video platform is poised to generate near$ 24 billion by 2024, crowning it the new king of social media marketing. TikTok gained a lot of momentum in 2021 growing 1 billion active users practically overnight. Now, their ad profitsis set to triple from$ 3.88 billion in 2021 to$11.64 billion in 2022. This figure indicates the platform will exceed both Twitter and Snapchat integrated and is approximated to take on YouTube by 2024.
The Rise of Short Form Video
We require only cast our minds back to the launch of social networks app, Vine, back in 2013 to know that brief form video was the future of marketing. Though the app was brief lived, removed by Twitter in 2016, it highlighted the engagement of short kind video, specifically amongst the more youthful generation.
Now, TikTok’s rapid success is further evidence of short form video’s dominance. The platform concentrates on snack-size content with videos that are 60 seconds or under.
Other social networks platforms like Instagram and YouTube have both observed the rise of brief form video and adjusted to compete with Reels and Shorts.