Jabes Twitter Musings - April 21st
TikTok is About Creation Which is the Great Paradox of Consumption
Ladies and gentlemen, that is what we call a “hot take.” For those of you not aware of what TikTok is...jk jk. All jokes aside, I would peg the probability that TikTok generates more EBITDA than YouTube by 2030 at above 50%. How might this happen?
My bet would be their extreme focus on creator tools. Let’s look at some wise words from Eugene Wei who articulates this nicely in his amazing series on TikTok.
The barrier to entry in editing video is really high as anyone who has used a non-linear editor like Premiere or compositing software like After Effects can attest. TikTok abstracted a lot of formerly complex video editing processes into effects and filters that even an amateur can use.
Instagram launched one-click photo filters (after Hipstamatic, of course, though Hipstamatic lacked the feed which is like the spine of modern social apps), and later Instagram added additional features for editing Stories, and even some separate apps like Boomerang that were later re-incorporated back into Instagram as features.
Snapchat has a gazillion video filters, too, though many are what I think of as simple facial cosmetic FX.
YouTube has launched almost no creator tools of note ever. WTF.
TikTok launches seemingly a new video effect or filter every week. I regularly log in and see creators using some filter I've never heard of, and some of them are just flat out bonkers. What creators can accomplish with some of these filters I can't even fathom how I'd replicate in something like the Adobe Creative Suite.
TikTok’s Warp Scan filter is a bizarre concept for a filter in and of itself, but the myriad of ways TikTok users put it to use just shows what happens when you throw random tools to the masses and allow for emergent creativity. It only takes a handful of innovators to unleash a meme tsunami.
It’s a long excerpt but he nails it oh-so perfectly. TikTok has commoditized video editing in a way that gives power to creators at a scale never seen before.
Virtually no YouTuber I follow shoots, edits and uploads all from their phone. They typically have a desktop or laptop setup with some software to make more in-depth edits.
TikTok on the other hand, it’s the exception not the norm to see videos which were shot, edited or uploaded with anything other than the phone. I think because of the simple fact that you can make magic from just the app, more people are able to create content to feed the TikTok algorithm.
When you have millions of people creating videos, you are bound to strike entertainment gold. When you are the home to said entertainment gold, you are going to attract people to spend hours and hours of time (aka attention) on your platform. When you have people spending hours and hours of time on your platform, you are going to be an ideal place for advertisers to spend money.
If TikTok can funnel this money into the hands of the creators while investing even more in creator tools, who's gon stop them huh?? (<-- Kanye reference)
What you unfortunately can’t see from this week's featured Tweet (hopefully Revue fixes this soon now that Twitter bought them) is the subtweet. So let me post it here because y'all are definitely lazy like me.
Turner highlights the idea that 15 second ads in TikTok fit the medium perfectly, while 15 second pre-roll / mid-roll ads on YouTube feel like a major interruption to what you are trying to enjoy. I view this as another leg up for TikTok as it's another carrot for advertisers.
Alexa, remind me in 9 years to check the EBITDA of TikTok and YouTube.
"Ok Jabe, I will remind me in 9 years to check the EBITDA of TikTok and YouTube. Would you also like to buy more toilet paper from Amazon?"
This will certainly not be the last I write about TikTok. They are onto something incredible and there is a ton we can dissect there. And we will. In due time.
If you find yourself with a few hours free this weekend, dive into Eugene’s TikTok series. It is worth every second of your attention.
Cheers,
Jabe