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Effect House by TikTok rolls out: As TikTok broadens its AR horizon, creator incentives play a pivotal role in its evolving digital strategy.

TikTok launches Creative Challenge: It鈥檚 a potential win-win for creators and brands seeking innovative advertising content.

TikTok evolves into a search engine: A study shows the platform is becoming popular among Gen Z for information and diverse content.

TikTok integrates Wikipedia snippets into search: A move towards broader search capabilities amidst rising competition with Google.

From CTV to TikTok to Retail Media

In 2021, the company owned just 3.9% of total US social media ad spending鈥攋ust above Pinterest at 3.2%. In the time since, it鈥檚 gotten worse. Its share shrunk to 3.6% in 2022, 2.5% this year, and will drop to just 1.8% by 2025, according to our forecast.

TikTok delivers best bang for the buck among rivals, studies show: The platform continues to put pressure on both Meta and Google.

TikTok is trialing an ad-free subscription in one unnamed non-US market. Snapchat+, which gives app loyalists access to exclusive features and perks, hit 5 million subscribers recently. X (formerly Twitter) already has X Premium, which offers perks but still contains ads.

Our take: With TikTok already allowing 10-minute content, Instagram's potential change is a strategic play. YouTube should generate $7.36 billion in US ad revenues this year. Instagram can now better compete for some of that allocation. Social media platforms are increasingly converging in terms of their features and offerings.

The engagement rate, calculated as the ratio of engagements to impressions for Instagram and video views for TikTok, provides a holistic assessment of user interaction. Head to head: There鈥檚 a fascinating contrast in engagement rates by influencer tier between Instagram and TikTok. Instagram.

We expect Pinterest鈥檚 user base to grow just 0.4% in the US this year, which means the platform will have to convince its existing audience to spend more time on its channels to drive social commerce growth. TikTok is rapidly becoming the dominant social commerce player.

Only 7% of banks use TikTok. With more than one billion active users each month, it remains the fastest-growing social network, with a 105% increase in US users over the past two years. That appears to be an overlooked opportunity. And only 4% of banks use Snapchat, developed for quickly disappearing content, primarily used by Gen Zers on mobile devices.

Just 25.5% of US marketers will use Twitter for influencer marketing in 2023, per our latest forecast. As a primarily text-based platform, Twitter isn鈥檛 a creator haven like video- and image-based TikTok, Instagram, or YouTube. And, as Twitter users flee, the addressable audience will continue to shrink.

To out-influence Gen Zers鈥� favorite financial social media creators, banks should mimic certain finfluencer strategies.

This year, Facebook will see its lowest-ever share of Gen Z in the US, at 55.6%. That number will curve upward beginning next year as that generation ages.

For example, 67% of Gen Zers say that TikTok influences their purchasing decisions. FIs wanting to connect with this generation should run targeted social media campaigns offering expert advice, and advertising their personal finance solutions that could help this generation meet their financial goals on this medium.

TikTok follow 鈥渇influencers.鈥�.

Reels revolution: Meta doubles down on short-form video to better compete with TikTok.

The cohort experiences life through social media and mobile devices. Banks must adapt to win their dollars.

The news: The social app Gas, which has at times supplanted TikTok and BeReal in App Store downloads, has been purchased by Discord. Gas鈥� small staff (founder Nikita Bier said in October the team was four people) will maintain the app and become part of the broader Discord team.

71% of teen YouTube users use the platform at least once per day, while 58% of teen TikTok users do the same on TikTok, according to October 2023 data from Pew Research Center.

TikTok Shop rollout spurs concern about platform engagement: Our survey shows many users have actually boosted their usage since shopping debut, but time spent is slowing overall.

Key stat: In the US, 71% of Gen Z adults say they are likely to make a purchase directly via Instagram, according to Jungle Scout. Just 40% of adults overall say the same, with the caveat that older generations are less likely to buy from social networks in general.

US consumers shop frequently with Temu and Shein, despite trust issues: Both Chinese retailers are winning more repeat customers than established players like eBay and Etsy.