Are you a TikTok fan? If yes then this news has really a lot for you. It’s really surprising how the TikTok or musical.ly fever has led the world in a completely different direction. But surprisingly, it has alarmed some of the Chinese internet giants.
The app analytics stats have made a jump with TikTok videos occupying almost 9 percent of productive time of the Chinese. This increase from 5.2 percent to 9 percent in a year has really nudged some internet giants.
According to Quest Mobile Report, Tencent’s famous WeChat has lost some considerable amount of user’s online time since last year. WeChat dropped from 3.6 percent of online viewer’s time. Though TikTok is still not there to compete, it has definitely shaken some figures.
TikTok, previously famous as Musical.ly, is a product of Bytedance. The app has been designed to make videos in various transitions and filters. Users can add music/ sound or blend different videos to create an interactive one. This app has successfully involved people of all ages and genders to participate in this fun activity. Not only this, people have been really admired over the internet for making interacting videos. In some countries of Asia, the TikTok videos gave some talented actors to the media industry.
To deal with this potential threat, Tencent launched some competitive apps against Tik Tok, but the efforts were futile. Amazingly, Tik Tok alone has managed to gather 500 million monthly users worldwide.
Byte Dance has made some strategic partnership with another leading giant of Chinese industry, Alibaba. Bytedance uses Alibaba’s online marketplace Taobao to make transactions for TikTok. Whereas, Alibaba gets its traffic from the new video sensation Tik Tok. The partnership is going smoothly until now but can turn tables for both anytime. Bytesdance is a startup that has quite independently grown up in the Chinese market and a lot is expected from it further. This has, however, threatened these internet giants and their popularity and current position over the internet.
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