The predictions have been confirmed. The rise of TikTok seemed obvious, but no one had enough data to be sure to what extent had they grown. This week, the platform has shed light on his big rise giving some data. A very interesting information, for example, is that they already have 100M Monthly Active Users in Europe. This is not only relevant because of the great rise of the platform but, also because of the position where it leaves their rivals.
When we talk about rivals, we are referring, in this case, to Spotify, the company that was leading the audio streaming market, at least until now, in Europe. Although it is true that both platforms have different content: TikTok is a free user-generated content platform where users can create short videos with music, while Spotify is a music streaming platform with a free and a paid version. The truth is that both of them are competing to be the ones that decide what music should the audience listen to or in other worlds, which song will be the next hit.
Spotify claimed 101.7M of MAU in Europe at the end of the second Quarter of 2020, positive data that looses strength if you compare it to TikTok which is already very close to these numbers. This situation, is a bit alarming for Spotify if we pay attention to their growth trends as TikTok is growing faster than Spotify which seems to suggest that by the end of the year, TikTok will have surpassed Spotify in Europe.
COMPETITION SPOTIFY – TIK TOK
However, Spotify is already working to be able to compete with TikTok in equal conditions, that is why they have filed a US patent for a video function they want to include in the App which will let users share ‘video-moments’ with music. Yes, it sounds very similar to the videos already shared on TikTok.
For its part, the company that owns TikTok is also owner of Resso, a music streaming service that is working in India, Brasil and Indonesia with which they aim to compete with all the music streaming platforms.
In the United States, where Spotify is less relevant, TikTok has already surpassed the 100M MAU, well above the 77.7M MAU that Spotify has there. In two years, the Chinese platform has multiplied almost by 10 its MAU in the US.