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As Per Variety
“TikTok has signed on as the title sponsor for VidCon US 2021, which is set to return to the Anaheim Convention Center Oct. 21-24.
YouTube said it will still be in the mix among the secondary sponsors, but the change marks a shift in the event – and more broadly, the creator economy – to embrace multiple social media platforms.”
As a result, there is a growing opportunity for creators on the platform, and the app is becoming more popular.
As TikTok continues to expand new monetization opportunities and builds out its eCommerce platform and influencer marketing offerings, it is becoming more recognized as a place where creators can discover and grow. In the quest to retain top talent, this could become an important consideration.
Is Tik Tok a Threat to Youtube?
With TikTok posing such a threat, YouTube stepped in to offer its TikTok-like service, with its Shorts offering recently being expanded into more regions.
YouTube has already passed the 5,600 million daily view mark for Shorts and recently announced that it is launching a $100 million fund to either assist creators or provide incentives to Shorts users.
While the sponsorship of VidCon is merely symbolic in this regard, it underscores YouTube’s concerns about the growing popularity with advertisement of TikTok, which continues to add new users every month. In particular, associations like that among video creators may contribute to TikTok’s success and community building.
The platforms that offer the best opportunities for creators will eventually attract them with the most earnings potential, which is where YouTube and Facebook will likely win out, long-term. its first billion actives.
Significantly, TikTok continues to be popular – no other app has ever been able to compete with such a big platform. The latter is now closing in on 200 million users that Vine had at its peak
In this sense, this is a significant announcement – particularly considering this element:
In addition to hosting the keynote address, TikTok will have top talent and executives present in all three of VidCon’s tracks (Community, Creators, and Industry).”
An opportunity for TikTok to pitch its products directly to video creators. YouTube is still the undisputed leader in video, but it’s still a relevant move.