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TikTok Takes Over as The Major Ads Platform in The United States

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Short-form video platform TikTok has taken over as the major online advertising platform in the U.S.

The video-focused social network’s massive growth has seen it displace the two dominant ads platform, Google and Meta (Facebook) in the U.S. online advertising market to become the most preferred app to run ads.

In the U.S., Google and Meta (Facebook) accounted for a combined 48.4% of U.S. digital ad spending in 2022, while TikTok annual revenue from ads in 2022 saw a whopping 200% increase from the previous year.

In 2021, it generated $4 billion in advertising revenue and analysts have predicted that its ad revenue will increase by 55% in 2023.

The platform is booming with more than 1 billion users, as it is currently changing the course of marketing with its exceptional features, which has seen it become the most preferred platform for brands to run ads.

One notable thing that sets TikTok apart from other platforms in the online advertising market is that it provides marketers with a level playing field when it comes to reach and engagement.

Unlike other platforms, TikTok’s unique algorithm gives every video an equal chance to go viral, regardless of the number of followers or how popular the content creator is.

Its dominance in the ads market doesn’t come as a surprise, as it has gone ahead to assist brands with ad creation on its platform.

Last year, it launched a “creative center”, which is designed to help advertisers understand what is working on the platform in real time.

With the creative center, brands can explore a showcase of the top-performing ads, view details on the latest platform trends, and search through TikTok’s audio library to help inspire their creative needs.

Recall that TikTok was the most downloaded app in 2021, with 656 million downloads and eight new users every second.

Initially launched for the Chinese market under the name Douyin in 2016, the app has become a global sensation amassing millions of users every year.

It should be recalled that in January 2022, Investors King reported that TikTok was named the world’s fastest-growing brand by Brand Finance Global 500 2022 report.

With a whopping 215 percent growth rate in brand value, the app firmly stands among the most valuable media entertainment brands worldwide, valued at $50 billion.

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WhatsApp Enhances Users Experience, Rolls Out New Voice Status Update

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Meta-owned messaging platform Whatsapp in a bid to enhance users’ experience has rolled out a new voice note status update.

This feature is coming months after Whatsapp noticed a significant traction in voice messages on its platform, which it disclosed that users were sending 7 billion voice messages on Whatsapp every day.

With this feature, users will be able to record and upload their voice notes as their Whatsapp status. They have the ability to record and share voice messages for up to 30 seconds.

When uploading a voice note, the send button transforms into a mic button that users can press and hold to record a message, much like sending voice messages in a regular WhatsApp chat.

Voice status can be used for sending more personal updates, especially if one feels more comfortable expressing themselves rather than typing.

Similar to pictures and videos status upolad settings, users will be provided with the flexibility to update their privacy settings per status so they can choose who views their status each time they upload it.

However, users who have contacts that have not yet updated their WhatsApp to the latest version, will not be able to hear or view their voice status until they update the app.

Investors King understands that Whatsapp has been working on the voice status feature for close to a year, with the early signs showing up in July 2022. WhatsApp began by rolling out the feature to a handful of testers via the latest beta update on the Google Play Store.

The updates have started rolling out to users globally and will be available to everyone in the coming weeks, the messaging app said.

It is however interesting to note that Whatsapp is not the only social media platform rolling out the voice status update. Micro-blogging platform Twitter has also been testing out the option to list voice tweets on iOS for some time now, but the feature is yet to be fully launched as it is still in testing mode.

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Meta Exceeds Estimates for Revenue in Fourth Quarter Earnings Report, Surpasses Wall Street Prediction

The social media giant ended the year with $US 32.1 billion in revenue, surpassing Wall Street predictions of $US 31.6 billion.

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Despite a tough start to 2022, Facebook parent company Meta exceeded estimates for revenue in its fourth-quarter earnings report, surpassing Wall Street Prediction.

The social media giant ended the year with $US 32.1 billion in revenue, surpassing Wall Street predictions of $US 31.6 billion.

Meta’s shares soared by 23 percent which saw the company’s founder Mark Zuckerberg amass a whopping $10 billion in 24 hours, with the tech giant announcing a $40 billion stock buyback.

Meanwhile, revenue in the fourth quarter fell 4% from a year earlier, marking a third straight quarter of declining sales. It’s cost and expenses ballooned 22% year-over-year to $25.8 billion.

Its profit more than halved to US $4.4 billion in the third quarter (Q3) from $9.2 billion a year earlier, while it announced significant changes to bolster efficiency in a tougher economic environment.

The social media giant in the third quarter faced stagnating user numbers and cuts in advertising budgets, also its revenue slipped to U.S. $27.7 billion from U.S. $29 billion a year earlier.

Its shares plummeted by over 60% last year, as Zuckerberg struggled to sell Wall Street on his plan to pivot the company towards the yet-to-be-developed world of the metaverse.

This frustrated investors who expressed concerns that the company was focused on a bleak futuristic endeavor, the met averse, while its ads business struggled.

Following the turnaround in the company’s recent revenue, Meta attributed the adjustment to slower anticipated growth in payroll expenses and cost of revenue. The company also said it was lowering the capital expenditure estimates for the year 2023 to be in the range of $30 billion to $33 billion, down from $34 billion to $37 billion.

It, therefore, expects its total expenses in 2023 to be in the range of $89 billion to $95 billion, lower than its prior outlook of $94 billion to $100 billion for the year.

Few analysts disclosed that the company had made all the right moves by posting better-than-expected earnings with impressive advertising revenue results, slashing expenses, and then announcing a massive share buyback plan.

Meta’s CEO Mark Zuckerberg who had earlier stated that the company was going into 2023 with a focus on prioritization and efficiency,  revealed that the company’s management theme for 2023, is the “year of efficiency”.

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Short-Form Video Platform TikTok Improves Private Messaging Feature

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Short-form video hosting platform TikTok has improved its private messaging feature by expanding the direct message settings, giving users the option to choose who they want to receive messages from.

The company which sent an email to users updating them on the feature disclosed that the current messaging update contains options such as suggested friends, mutual followers, and people you have sent messages to.

Through settings, users can access the DM options, and also filter out suspicious spam messages. To change their direct messaging settings, all they need to do is to tap the profile icon at the bottom of the Tiktok home screen.

Next, they will tap on the menu button at the top and select “settings and privacy”, and then tap “privacy”. From there they will need to select direct messages and then they would be able to choose who they would like to allow to send them DM.

This feature could make TikTok a messaging app, enabling users to DM their favorite content creators. The feature is currently on other social platforms such as Instagram and Snapchat which enables users to choose who they want to receive messages.

Investors King understands that TikTok’s latest messaging feature can be seen as a move towards competing with other social media platforms that have enabled such feature.

The short-form video platform has continued to improve its platform with the latest user-friendly features as it continues to heighten competition in the social media space. Last year, it introduced a “new friends tab” that replaced the “discover tab”, which the app disclosed that it was looking for a new way to recommend content based on users’ friendships.

After its launch in 2016, reports disclose that TikTok awareness has grown exponentially. Its popularity skyrocketed with a 61% increase in mentions year over year (YOY) during the first half of 2021.

According to report, TikTok has the power to help brands connect with their target market especially when they engage them. Being the first non-facebook app to reach 3 million global downloads, TikTok is poised to continue its dominance in the social media space.

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