TikTok is facing a lot of turbulence amid news of its potential takeover by Microsoft as US president Trump hinted to ban the video-sharing app in the United States. The political tensions are rife between the countries. It is just a matter of time that things would clear up about TikTok fate; however, in this turbulent time, there is a lot of tug-of-war king situation for the talent in the various competing platforms.
Competitors Attracting TikTok Talent
Los Angeles based Thriller app is one such platform that is backed by Ryan Kavanaugh and Snoop Dogg, which can give a tough time to TikTok. Another App Byte launched by the ex-founder of Vine is also venturing into the same platform to attract the users. The competitors are trying to Woo TikTok talent but offering equity to the high rated TikTok star and giving financial perks to users.
Thriller looks promising
Thriller is all set to raise about 250 Million dollars funds from the investors by showing 1 Billion USD valuation. The app has supposedly grabbed deals with some of the most famous TikTok stars like Noah Beck, Anthony Reeves, and Griffin Johnson.
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
Tech giants are venturing in the space.
Big names in the tech industry are vying for the popularity and potential of video sharing apps like TikTok. At the same time, ace book launched an Instagram version of TikTok named Reels, it is said that Google would also release Shorts, a version of similar service.
Social media stars are big
The competitors are in the race to clinch the talent quickly, Chris Emme, the Chief Revenue Officer of Tus, which is an upstart platform, said,
“These big social media platforms, much like the [television] networks before them, are competing for talent,” he said. “So, money is being put into the market to try to get exclusivity. It seems like a natural evolution of the ‘professionalisation’ of content creators.”
TikTok rose to the immense popularity
Over the past few years, TikTok has raised to unexpected popularity giving thought competition to Instagram, which was the most relaxed place for social media influencers. Influencers earn thousands of dollars for posting brand awareness posts on Instagram through their accounts based on their popularity and engagement. Last few years, TikTok was fast becoming a popular platform for the talent to earn financial perks by posting videos and reaching out to millions of users in the US and worldwide.
Tough times ahead
TikTok has now faced a backlash with the ban in India. Over more, the US president has set a deadline for TikTok to be sold to a US company. If the platform fate is doomed, the top stars are looking for alternatives to continue their social media activity and remain popular with brands.