Anna Lee is a crypto journalist who has been covering crypto-related news since 2018 and whose work has appeared in the Huffington Post and the Los Angles Free press.
The gen z-focused TikTok has seen over 1.5 billion downloads across multiple app stores and is giving social media giant Facebook a run for their money.
Even though the world of social media is a global affair, all fingers are certainly not equal and like any other consumer market, various platforms fight for dominance among users with some faring better than others. Facebook, in particular, has been a mainstay within the social media market for over a decade and this includes Facebook itself as well as Messenger, Instagram, WhatsApp and so on. However, there is a new crop of social media platforms that threaten its dominance and are reaching a whole new market.
One app that is giving Facebook a run for his money is TikTok, which, according to the Sensor Tower, reached 1.5 billion downloads across both the Apple store and the google play store just recently. This comes after it hit the billion download milestone back in February 2019.
The Download Wars
In total, TikTok has seen 614 million downloads this year which is 6 percent more than what it was last year as the platform continues to see widespread growth. But what is the reason for this explosion in growth?
Many believe that it is due to its growing popularity in India which accounts for 31 percent of its user base followed by China which has 11.5 percent of the user base and then the United States, which has 8.2 percent of its user base.
It should also be noted that Tik Tok is particularly popular among young people, which is a demographic that Facebook itself is trying to get a hold of. TikTok is the third-most downloaded app among that demographic behind WhatsApp and messenger but ahead of Facebook and Instagram.
While it should be noted that four of the five in the top apps in terms of downloads are owned by Facebook, TikTok outperformed Instagram, its the biggest rival, by 238 million downloads in the last year and it could very well be a viable rival to Facebook.
In response to TikTok, Facebook has tried to maintain its ground as well as look into new opportunities. In November 2018, Facebook launched a standalone video-sharing app that goes by the name Lasso a leaked memo reveals that Zuckerberg deliberately positioned Lasso in markets such as Mexico that TikTok had not yet gained ground in.
Facebook had famously spent six months trying to acquire the app musical.ly which would eventually morphe into TikTok. Needless to say, it seems we have not seen the end of the app wars and the best is yet to come.