Image credits: Instagram Reels
/
Weekly Roundups

TikTok Emulated to Reach a Younger Audience

By Andrea Villar | Thu, 08/13/2020 - 12:44

TikTok has become the benchmark for the most recent Snapchat and Instagram releases to compete directly with the Chinese application. On Wednesday, Instagram launched its Reels feature in 50 countries, including Mexico. But its strategy is not to try to get its users to migrate to another platform. Instead, Instagram added one more tab to the app to allow users to make and watch short videos without leaving the platform, just like TikTok.

But why did TikTok become a benchmark? TikTok was the most downloaded social media app worldwide as of September 2019, registering nearly 60 million installs, according to a Sensor Tower report. Instagram’s Reels will allow users to create and post 15-second recordings with music or other audio, similar to TikTok, although the latter allows videos of up to 60 seconds. Reels will also offer a suite of editing tools, such as a countdown timer and tools for adjusting the speed of the video.

Instagram Product Manager Vishal Shah admitted that TikTok has done a great job but said it had not invented the market for short videos. The Chinese app took up the foundations of the defunct Vine platform and knew how to exploit the concept. Snapchat also announced on Aug. 3 that users will soon see a new feature enabled to add songs to their videos, after signing song rights agreements with various music companies including Warner Music Group, Universal Music, and Merlin. 

Will these new features be able to compete with TikTok, which despite the threats of prohibition in the US, has accumulated more than 1,500 million downloads worldwide since 2016? Time, and the market, will tell. 

More news below:

  • Mobility restrictions around the world led ride-hailing companies to focus their efforts on their food delivery divisions. The hit was felt in 2Q20 results, in which Uber travel reservations decreased by 73 percent against the previous year. However, the pandemic boosted demand for Uber's food delivery business by 113 percent. "The COVID-19 crisis has moved delivery from a luxury to a utility,” Uber CEO Dara Khosrowshahi said.

  • The Mexican Space Agency (AEM) celebrated its 10th anniversary by announcing its commitment to the country’s most disadvantaged, as well as the first Mexican Space Innovation and Development Center. The agency aims to generate added value employment, contribute to Mexico’s competitiveness and support the development of the country’s space sector.

  • The digital transformation has become an imminent reality for all industries. However, among the most erroneous beliefs when a company is about to begin a digital transformation, are its cost, difficulty and the lingering concern that this process will eliminate jobs.

Photo by:   Instagram Reels
Andrea Villar Andrea Villar Journalist and Industry Analyst