http://gty.im/1193165344 With the number of content creators and “influencers” on the video-sharing and lip-syncing networking service, TikTok, you would think the app is dancing its way to the top of social media charts. But think again. The company’s parent, ByteDance has a storm ahead that could destroy the platform’s entire user-base.
While TikTok which has witnessed exponential growth since its launch in 2016, it has simultaneously begun to witness a downfall in recent times that has lead TikTok to rebrand itself, restoring its sustainable growth in the social media market. When ByteDance acquired the app, then-known as Musical.ly, it was clear that changes were needed.
Garnering close to 1.5 billion users within its first three years of its launch, TikTok has arguably out-spaced tech giants like Facebook, Instagram, and Twitter, begging the question of how to continue staying “relevant” in the social media space moving forward.
The Unprecedented Growth
TikTok rose to fame in an unprecedented fashion that has propelled the other major social media platforms to look out for new possibilities to sustain and enlarge its user base.
The application created a very own market in a short time which had pumped in more cash to its account that had lead other social media giants to stumble to sustain its users and to halt their users from taking a shift to this newcomer.
Within a few years of its launch, the Chinese media giant has turned out into the most valued private technology firms in the world, with an estimated value of over $75 billion. ByteDance has a voluminous suite of apps under its portfolio, the most popular of which is of course TikTok.
While ByteDance has an international version of TikTok, both the U.S. version and international version (Douyin) have taken off in a big way. In July 2018, ByteDance said Douyin and TikTok had 500 million monthly average users (MAUs), which is of course significantly higher as of today.
The Downfall
But as quickly as Tik Tok’s popularity has continued to grow, so have the criticisms and controversies surrounding its content, particularly with respect to its younger users and minors.
The application is said to have taken the lives of many across the countries. Many such instances were reported which in turn damaged the reputation of the application. Global media houses made TikTok as their prime time topic and drew flak from the public. These instances have damaged its brand image widely which paved the way for its downfall.
The application had its huge base in the age group of between 18-25. But, the criticism towards the application had garnered a bad image for it especially among the parents.
Subsequently, they turned into a hindrance to the application since many youngsters were banned from using this application by their parents. Thus, many were made to out throw the application from their mobile phones.
According to recent data, the number of first-time downloads in the quarter that ended September 30 had a four percent (4%) decline in comparison to the same time from last year. Evidently, this comes as proof of how the lip-synching application has lost its lustrous in later days. This came as a huge sigh of relief for Facebook, Twitter, and other social media rivals. By this, it is evident that Tik-Tok had dominated the social media market by outshining Facebook and Twitter.
Tech Giants Alike, Data Privacy is What’s Killing You
In today’s digital age where tech giants like Facebook and Google have been under heavy scrutiny from lawmakers and regulators surrounding its data collection policies, so has ByteDance.
Chuck Schumer Thinks its a National Security Risk..and He May Be Right
The downfall of the company’s brand image proceeded when the US government questioned ByteDance on the handling of the data of its citizens. Currently under national security review, TikTok is the subject of serious discussions by the committee on foreign investment, as the Chinese media company declined to offer to testify as part of the Senate Judiciary Hearing regarding its ties with China.
U.S. Senate Minority leader, Chuck Schumer, along with both Democrats and Republicans have voiced together against TikTok alleging that the company has connections with the Chinese government, garnering the attention of the world countries and has made them dubious over the security of the data of their citizens.
Subsequently, many countries are expected to grill Tik Tok over the handling of user data. If Tik Tok fails to ensure its authenticity, it could create a jolt globally that can lead to a dramatic downfall to its userbase.
Tough Times Ahead
Subsequently, Tik Tok made a statement affirming that the company was committed to keeping the data of U.S. citizens secure and objected to claims on the intervention of the U.S. government.
The application has also garnered international outrage on the accusations of removing the contents regarding the Hong Kong protests. Many social activists claimed that this is the best instance for the accusations about the company being under the control of the Chinese government.
Facebook, Twitter, and other social networks are remaining tight-lipped, indirectly supporting the outrage against their rival which was once an underdog.
But, Byte Dance, TikTok’s parent, has objected all these claims stating that it is independent and not controlled by the Chinese government in any way.
Rock-Bottom Awaits
If the company fails to surpass its tough times, it could be banned in the U.S. anytime followed by other world countries. So what should the company be doing?
Cooperate. Comply. And most definitely re-brand…again. Otherwise, it’s just rock-bottom for it.
