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Zooming out: YouTube is working to make becoming a content creator more manageable, especially on Shorts, its short-form competitor to TikTok and Instagram Reels. Reducing the technical skills required to plan, edit, and promote a video could help increase the number of users on Shorts and amplify work from independent creators and brands.

We could see these results used to enact a US version of the EU鈥檚 Digital Markets Act (DMA). Our take: Ad revenue is a dominant form of income for many platforms鈥擲nap reported in Q2 that 鈥渟ubstantially all鈥� of its revenue comes from ad products, and 98% of Meta鈥檚 total revenue in Q2 came from advertising.

Snap introduces new AR glasses and creator tools: Updates include a unified entertainment feed and simplified app experience, positioning Snap to compete with TikTok and Meta.

Meta is also competing with TikTok for Gen Z users, and the race is tight: 72.5% of Gen Zers use Instagram at least once a month, compared with 71.5% for TikTok. Our take: If Instagram can maintain a connection with younger users today, it can potentially monetize them in the future as they grow into more active consumers.

Some TikTok searches trigger Google answers. Details on Google鈥檚 reported partnership with TikTok are sparse, but its potential benefit to Google is a no-brainer. TikTok鈥檚 popularity with Gen Z is well documented, and Google is taking a page from the advertiser鈥檚 playbook: Be where your target audience already is. YouTube is Google鈥檚 secret weapon in social search.

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TikTok Shop could be a gamechanger. Launched in September 2023 in the US, TikTok Shop hopes to bring Asian-style social shopping to its huge Gen Z audience. Along with shopping livestreams, which so far have fizzled in the US, TikTok Shop also includes shoppable video and a marketplace.

Among social media platforms, Facebook (excluding Facebook Messenger), Instagram, and TikTok users spent less time on the social media apps in June 2024 compared with the year prior, per data by Comscore.

TikTok. They are picking up TikTok, which is unexpected because even millennials don't pick up TikTok at the same rate. And so this year, we saw a 12% increase in Baby Boomer TikTok users, and we can expect to see another 11% increase in the next. And so I want to be clear that we're still talking about a pretty small amount of the population, about 9 million or so, so about 13% of Baby Boomers.

But the ad doesn鈥檛 appear to be running on TikTok, Facebook, or Instagram yet, which could limit the ad鈥檚 reach and impressions.

TikTok has been aggressively pushing TikTok Shop videos into users鈥� For You pages, with shopping livestreams also thrown into the mix. TikTok is the only real contender left in US social commerce livestreaming. Facebook and Instagram have pulled the plug on their initiatives in this space.

TikTok is Gen Z鈥檚 preferred way to discover and research. 鈥淭颈办罢辞办 has really become the platform of choice for Gen Z, not solely for shopping, but for content in general. The platforms that attract the most eyeballs are going to become the most influential for shopping,鈥� Droesch said. This year, 71.2% of all US Gen Zers will use TikTok at least once per month, per our June 2024 forecast.

Three in four consumers are concerned about fake reviews, according to January 2023 data from Bazaarvoice. Amazon and other retailer websites have a fake reviews problem, and it鈥檚 driving consumers鈥擥en Zers in particular鈥攖o seek information about products on social media sites like TikTok and Reddit.

The letter, representing 39 states and American Samoa, the District of Columbia, and the US Virgin Islands, cites research linking social media use to anxiety, depression, and suicidal ideation in young people, per The Verge.

US consumers spent $2.17 billion on social media apps in 2022, nearly half a billion more than the year before, according to data.ai. Worldwide, social app spend hit $7.28 billion last year, up from $6.32 billion in 2021.

TikTok. Walmart.

Customers who followed TikTok advice soon saw holds and negative balances in their accounts. Chase didn鈥檛 tell Banking Dive what caused the glitch or how many customers tried to take advantage of it, but a spokesperson did say that the bank considers these users鈥� actions to be fraudulent.

TikTok boosts movie success: The platform drives theater attendance and ticket sales, especially among younger audiences.