Facebook’s Taking On TikTok

by 2 months ago

Unsplash/Kon Karampelas


 

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Yesterday, Facebook’s Instagram launched its second attempt at copying a successful competitor’s feature. We see you Snap… The new “Reels” is launching in the US to compete with TikTok’s short-form video app.

The TikTok knock-off allows users (read: your 14-year-old cousin) to create 15-second clips of them doing “challenges” that include dances, telling dirty jokes to their parents, walking in on their partners naked, and whatever else the kids are into these days in hopes of going viral. Who says the American dream is dead?

The platform pushes the “best” content onto your feed and down your pie hole in hopes of generating more interaction (read: revenue). In that way, it incentivizes creators to get out there and teach everyone how to Dougie. Whatever happened to sitting back and creeping in peace? Is nothing sacred anymore?

Facebook’s stock was mostly unchanged on the news, closing down 0.28% on the day. Probably because this wasn’t exactly a surprise…

One helluva time

If there was a better time to launch a TikTok competitor, Zuckerbot’s internal algorithm couldn’t calculate it…

Not only was TikTok banned in India at the beginning of July but you may have heard that POTUS is threatening to go all Jon Taffer (read: “shut it down!”) on the app stateside.

Of course, the nerds at Facebook were in their basements trying to ripoff TikTok way before it was in DJT’s crosshairs and before it was a potential acquisition target for Microsoft. It has tested Reels in Brazil, India, and France to promising results, though none were provided. I mean, if the French like it, then you know it’s got a chance.

Either way, now’s probably not a bad time to enter the market and see how the 1B IG users take to the platform.

The bottom line…

FB isn’t the only company trying to take the short-form vid crown from TikTok either. The market is getting crowded with new apps like Zynn, byte, Triller, and Clash.

While those competitors don’t scare Zuck, Microsoft probably does. A fully funded TikTok makes for a formidable competitor opposed to one that exits the market entirely. Something tells me POTUS just got a FB message…

Water Cooler Talking Point(s)

💧 “If you ask me the social media market is so over..*checks texts, FB, Hinge, IG, Tinder, Snap, TikTok, Bumble*… saturated.” (Ian, The Water Coolest HQ)

 

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The Water Coolest is a daily business newsletter consisting of business news, financial advice, and unfiltered commentary. Delivered fresh in your inbox every morning so you're ready to snap necks and cash checks. Written by Tyler Morrin, AJ Glagolev, Nick Ellis, and Ian Barto.

TAGSFacebookinstagramreelsTikTokzuckerberg