Photo Credit: MusicWatch
A study completed in January shows TikTok is rapidly losing ground to its biggest competitors, Meta’s Reels and YouTube’s Shorts.
The federal TikTok ban in the US was over practically before it began. But how much of an impact did the government’s temporary shuttering really have on the short-form video platform? According to MusicWatch’s latest study, in Q4 there were more users spending their time with TikTok’s biggest competitors — Reels on Instagram and Facebook, and Shorts on YouTube — with about 5% fewer users scrolling on TikTok.
Of course, with the future of TikTok still unclear in Q4 2024, it could be said this drove users to other platforms to brace for the impending ban. But it also implies that, despite its continued market share, TikTok and its highly sought after algorithms don’t hold nearly as much sway over the landscape as initially thought.
The biggest indicator of this shift is in TikTok’s decline among its core constituents between ages 13 and 24. TikTok’s share fell a surprising nine points from 51 to 42% among the younger demographic. Instagram and YouTube happily swept up most of the difference.
Meanwhile, among users 45 and older, TikTok lost four share points, while YouTube and Facebook saw an increase. Overall, TikTok dropped five share points year-over-year in the music category, settling at 29%. Meta holds a combined 36% share, including both Facebook and Instagram, while YouTube Shorts holds a 26% share, up 2% from the year before.
As of January, there were over 103 million music listeners on these apps in the US — a rise of 80% since 2021. On average, these listeners spend 6.5 hours per week with music on social video apps, or around an hour per day. This doesn’t include time spent with other genres, such as comedy or how-to videos.
It’s unclear whether the shift is due to uncertainty surrounding TikTok’s future in the US, or if it indicates an organic shift to competitors. But artists and creators may need to reexamine their relationship with social video platforms beyond just TikTok.
Content shared from www.digitalmusicnews.com.