SAN FRANCISCO, Nov 18 ― Is TikTok on the verge of dethroning Facebook and Instagram? The phenomenal ascent of the Chinese social network continues. According to a study, TikTok could host more than 1.5 billion users in 2022. The forecast testifies to the strength of this app which doesn't seem to be slowing down any time soon.
Instagram has Reels, Snapchat has Spotlight and YouTube has Shorts, but amidst all this competition TikTok is in the lead when it comes to the short video format. With its rivals introducing new features to capitalize on the trend, the trend-setting social network isn't losing any speed, on the contrary. According to a recent report by App Annie, “2022: A World Transformed ― 6 Mobile Forecasts to Help You Succeed,” TikTok could surpass 1.5 billion monthly active users next year, making it the fastest app to reach that threshold in about 34 quarters, outlined App Annie, which analyses individual apps.
An auspicious forecast for TikTok that would place it far ahead of Instagram and its claimed billion monthly active users since 2018. And while this figure envisions a bright future for Generation Z's favorite social network, its growth could have been even greater if TikTok had not been banned in India in June 2020: “TikTok has grown at a rapid rate compared to social-media rivals in 2021, even after it was banned in India in June 2020 ― previously one of their top high-growth markets,” the report points out, recalling that TikTok had 200 million users in India at the time of its ban.
Tiktok, a ‘disruptive force’
This isn't the first time App Annie forecasts such success for TikTok. In November 2020, the site announced that the social network would reach one billion users in 2021. Something that TikTok indeed announced in September 2021, upon celebrating its fourth year.
TikTok's lead seems to be largely unchallenged for the moment and is prompting even the most popular social networks to re-examine their script. In the face of the growing success of this short video-focused platform, Instagram, YouTube and Snapchat have all launched new formats in the vein of TikTok's approach. Instagram in particular is promoting its audio and video offerings by recently adding new tools that allow users to play with synthetic voices and tools that allow them to modify their own voices when creating a Reel.
While a growing number of brands are joining the TikTok universe in order to take advantage of the engagement rate, the trend could even further intensify if the social network continues to attract more and more internet users, the report predicts: “TikTok's global rise could be carving out time away from video streaming providers and attracting significant advertising dollars due to their wide reach and deep user engagement. TikTok will continue as a disruptive and genre-blending force in 2022 as they expand their investment in shopping.”
According to the same report, TikTok could also break two other records in 2022. The app could surpass 3 billion downloads worldwide and reach 3 billion in spending worldwide, both on iOS and Android. Such in-app spending directly benefits content creators and includes donations or tips during live streams. ― ETX Studio