Could Triller or Instagram Reels Dethrone TikTok?
TikTok has certainly become the center of attention in social media marketing. TikTok was the service the industry needed to break up the domination of Facebook and Instagram. General users, brands and influencers were attracted to TikTok when it first entered the market and it continued to grow. Back in April, combined downloads across the App Store and Google Play reached two billion.
Despite all the attention, TikTok has some serious problems — mostly notably, the calls for banning it in the United States. Some experts believe the only way the platform will survive is via acquisition by Microsoft or another American giant. Now, it seems to have a new problem… competition.
What was once a formidable platform is now under threat from new services. Short video content platform Triller and Instagram Reels are both stirring the pot.
Let’s take a look at the competition.
Triller
Perhaps the most surprising fact about Triller is that it has been around since 2015. Despite this, it is just now getting the traction it deserves. Just like TikTok, Triller is all about short videos, trends and challenges.
Depending on what you’re trying to achieve, there are 100+ drawings, filters, text and emojis to optimize a post. Users can also choose from their personal music library to add sound to videos. As well as sharing to other Triller accounts, users can share to Facebook, Twitter, Instagram, email or SMS. As a brand, this has tremendous value because you can reach audiences across all platforms with one video.
Why Triller?
Why are people migrating to Triller from other platforms? For one thing, it offers an auto-editing algorithm that edits ‘takes’ automatically — this has led to Triller’s slogan ‘You do you, Triller does the rest.’ With the algorithm, Triller will edit all of your takes into one flawless video. Although there are more editing options on TikTok for those who like to edit their own videos, it takes away the hassle for those who dislike the process. Users are also enjoying Triller’s collaboration tools where friends and family members can do a group video.
For the average user, another reason to choose Triller is because it’s poaching some top influencers from TikTok to grow the brand. Josh Richards, a key influencer on TikTok, Recently, became Chief Strategy Officer at Triller. Considering his account has over 20 million followers, it’s no surprise that users are starting to question whether to stay put or move on to Triller.
The Numbers
In early August, Triller surpassed TikTok and became #1 in the Top Free Apps category on the App Store. In July, there were thought to be 50 million active monthly users. In addition to the United States, the app now has the top spot in the App Store in almost 50 countries. Some estimates put Triller worldwide downloads at 250 million.
The Support
So far, we’ve seen Triller content from celebrities like Kevin Hart, Chance the Rapper, Justin Bieber and Rita Ora. Many more have shown interest, including Juicy J, Marshmello, Mike Tyson, Black Chyna and Millie Bobby Brown. We mentioned earlier that Josh Richards had a role in the company, and it’s believed that he also invested in the brand. Other big name investors include Lil Wayne and Snoop Dogg.
In terms of influencers, there seems to be an ongoing exodus from TikTok to Triller. This includes names that have been involved in the creation of Triller including Griffin Johnson, Anthony Reeves, Noah Beck and Josh Richards. They have equity in Triller and will be advisors to the brand.
Towards the end of July, Triller revealed that it would be raising up to $300 million to fund its growth in the market. According to a recent report, a nine-figure number had been secured to expand and make a deal with TikTok’s top influencers. CEO Mike Lu said this was a big step for the company in taking on the elder statesman in the industry.
Instagram Reels
Just as TikTok was getting used to the rise of Triller, Instagram introduced ‘Reels.’ Revealed in early August, Reels is another short video platform that offers effects, audio and other tools. Videos can last up to 15 seconds. For those with a public account, there’s a new space available in Explore. According to Instagram, Reels provides all users with an opportunity to be a creator and reach their own audience.
Why Instagram Reels?
One of the biggest reasons people will use Reels is because they’re already on Instagram. Many brands will already have a marketing strategy on Instagram. Reels is just an extension of this strategy rather than a commitment to a completely new platform and account.
On the Instagram camera, click the Reels option at the bottom of the screen. You can then create a reel using the following tools:
- Timer and countdown
- Align
- Audio
- AR effects
- Speed
While some will record videos and then upload when on the app, others will record directly on Instagram either in one whole clip or a series of smaller clips.
Privacy settings are still applicable for private accounts. After creating a reel, you can share to your Feed and followers. Nobody can share with people who don’t know you and no one can use your audio. Those with public accounts can share in Explore.
When somebody clicks on the song, hashtag or effect used in the video, they’ll see a whole list of videos using those same features. This offers another way to get your videos discovered.
The Future of TikTok
TikTok is a platform with over 30 million monthly active users in the United States alone. With a great deal of influencers on TikTok, both the average user and brands are sure to take advantage of this even as Triller continues to grow.
TikTok recently invested $200 million into a fund to support top creators. Traditionally, social media websites provided the platform that influencers needed to earn money from sponsorships. Now, TikTok wants to reward top creators with money directly.
We shouldn’t forget that TikTok was the first service to break up the domination of Facebook and Instagram in the social media space. As the first to do this in the market, users and companies will remain interested in its evolution.
Currently, TikTok faces a great deal of conflict. The Trump administration has spoken openly against it and the general public is skeptical of the motives behind its data collection. Given the already tumultuous relationship between China and the US, the fact that a Chinese company owns TikTok could be a potential issue.
Either way, TikTik isn’t going away without a fight. According to some sources, Microsoft wants to sign a deal for the platform before September 15th. Currently, TikTok has an estimated market value of $50 billion.
Instagram Reels or Triller Could Dethrone TikTok
TikTok is on shaky ground, Triller is getting bigger and Instagram already has hundreds of millions of users. If TikTok can get American owners, it could still fight and keep important influencers and brands. Otherwise, there comes the risk of losing the platform altogether. Regardless of the outcome, it’s encouraging to see competition in this niche, while Facebook/Instagram will do anything to keep its edge.
Which platforms do you use? Will the rise of Triller and Instagram Reels change your social media activity? Is it time for a new strategy?
