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Event honoring TikTok livestream creators. Photo: TikTok . |
The livestreaming pie has been targeted by many large businesses and start-ups in recent years. However, with the advantage of the number of users and video viewing habits, YouTube still dominates this segment. The situation has changed when TikTok emerged as a rival to Google's "darling".
Based on domestic success, Chinese companies have sought to copy the live streaming app model internationally. They have invested in subsidiaries in Southeast Asia and South America such as NimoTV, Bigo Live, Nono Live, etc. to develop the market. However, these efforts have not been effective, have not captured market share, and cost a lot of money to acquire users.
In addition, customers have no loyalty to the platform, they choose to follow their favorite broadcasters. This creates instability in the service itself. In addition to the Chinese company, Facebook (now Meta), also invested heavily in livestreaming and gaming to compete with YouTube. However, this was a failed product and was shut down.
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Global streaming market share. Photo: StreamsCharts. |
TikTok has emerged as YouTube’s biggest competitor in the livestreaming space in recent times. In addition to short videos and shopping apps, the platform’s broadcast portfolio has also surprised with its 27% share of global watch time, according to StreamsCharts.
With billions of users and video-watching habits, the app has had no trouble getting off the ground like its Chinese rivals. TikTok LIVE amassed about 8 billion hours of live viewing in the second quarter, compared to about 15 billion for YouTube. It also outpaced its closest rivals, Twitch and Kicks, which specialize in gaming content.
According to StreamsCharts, fashion , beauty, and talk live streams are typical on TikTok. The app also exploits chat duo broadcast functions, PK, and various gift formats to boost revenue. This is where the app is more flexible than YouTube, which has fewer features to support broadcasters.
Recently, TikTok held an event to honor global livestream creators, which took place in Vietnam. The list of winning countries was mainly represented in Southeast Asia and Central Asia. This reflects that the platform has a concentrated presence in certain regions. These are also markets where many Chinese "players" have fallen before.
However, the development of the new segment may be affected as the TikTok app becomes increasingly crowded. In addition to short videos, the app also takes on the role of e-commerce and sales broadcasts. Managing livestream content is also a big problem, as it is more difficult to censor than traditional posts, photos or videos.
Source: https://znews.vn/tiktok-live-ken-cua-youtube-post1573817.html
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