For me, the start of lockdown can be summed up quite easily…
- Hours spent learning TikTok dances
- Watching my favourite singers stream live gigs from their homes
- Video Calls and quizzes with family and friends.
Since Coronavirus became a huge part of our lives, many of us have seen our usage of Social Media platforms grow massively. We’ve been on our phones more than ever, and our need to connect and communicate has never been stronger.
It is not surprising that our media consumption has greatly increased as we stay at home, but social media engagement has also soared. TikTok has clearly become a popular source of entertainment, as well as an outlet for creativity, with many consumers using the App for the first time.
In March, Statista completed a survey to start understanding the changes in the way that we consume Media throughout the Coronavirus Pandemic. At the start of lockdown, there were significant increases when it came to Social Media and Live Streaming. 40% of people stated that they were using Social Media more and 48% of people were watching more live TV & streaming more.
TIKTOK in 2020
There are currently over 800,000 million users on TikTok and the App hit 2 billion downloads at the end of April – making it the best quarter for any app, ever.
We recently joined a webinar led by the team at Electric House and Edward Lindeman, the European Strategy Manager at TikTok. During the webinar, we discovered that on average users spend 52 minutes a day on Tiktok. This equates to 36.1% of all Social Media time. It’s no surprise that the brand has seen its audience grow massively.
TikTok has seen that a much wider audience is now using their App, wanting to share content with their family and friends.
The Drum reported that when it comes to the “new” TikTok audience, “the increase can be seen in the millennial generation too”
- In 2019, millennials [roughly between 24-40] barely used TikTok – with just 3% using it regularly.
- Early in the coronavirus outbreak, this number went up to 19%, with reports suggesting it has skyrocketed in recent weeks.
- 26% of TikTok users are between 20-29 years old” which we know is a very powerful audience for any brand to captivate.
Brands & revenue
SensorTower reported that lifetime user revenue had “risen to $456.7 million, more than 2.5 times the $175 million the app had generated when it reached 1.5 billion downloads….with Great Britain ranking No. 3, accumulating $9 million in revenue”
Leading the charge when it comes to using TikTok are brands including the NBA, BMW, Gymshark & Mac Cosmetics. Gymshark creates great content based on workout videos and memes, while the NBA use their channel to post “comedy” content, letting their other social media platforms take the heavy lifting with news and highlights.
The “Creators” and influencers who regularly work and earn through the App, are the perfect way to get the right content. Get the content right, your brand is then placed in front of one of the most exciting and active audiences.
With their continuing growth and success, TikTok released their first UK TV Advert with the key message of “making the most of right now” – and that’s exactly what they’ve been doing.