13 Mar New data reveals TikTok is the heavyweight of social media seeing 22% of market share in the UK
Despite being founded in 2016, TikTok has witnessed incredible growth in recent years, superseding older social media networks. New data by Statista Market Insights has unveiled TikTok’s app revenue market share has reached 22% in the UK, surpassing those of Instagram (10%) and Facebook (7%). There has been speculation around why the rise of TikTok has been so exponential – Alex Payne, industry expert and CEO of Room Unlocked – a value exchange platform revolutionising influencer marketing – argues it circles back to three main elements: the app’s incredibly intelligent algorithm, its lean towards viral ‘trends’, but most importantly, how it establishes its communities.
TikTok’s rise in popularity has highlighted a push in platforms giving the power of influence to its community. The way the app pushes organic growth of content is evident of a wider interest in the way that ordinary people engage with viral trends and products. Audiences have started to fight back against the culture of superficiality and overconsumption being promoted by social media and influencers. ‘Deinfluencing’ is just a recent example of this, where creators are urging viewers not to buy something, as opposed to creating hype around a product. Rather than falling into the trap of impulse purchases and buying products that you wouldn’t necessarily use, the needs of users are being targeted more by brands and influencers who operate in this platform.
TikTok also has an innate ability to create influencers and celebrities out of seemingly ordinary people. The platform is populated typically of micro-influencers who usually have between 1,000 and 100,000 followers and cater to a specific niche, from thrifting or haircare treatments, there is a category for anything and anyone. With those in the industry traditionally associated to promoting paid content, consumers now want to see themselves reflected in those brands choose to collaborate with, as 25% of Brits say they only follow influencers who share the same beliefs and values as them – according to Room Unlocked. As authenticity online continues to reshape the way we consume social media, TikTok and platforms that champion online communities will continue their growth amongst younger audiences.
Alex Payne CEO and co-founder of Room Unlocked, comments:
“TikTok overtook instagram, Facebook and Snapchat to become the most downloaded app in 2021 – now over 3 billion downloads and counting. The platform’s growth can be put down to Gen Z’s move towards authenticity over ‘influence’. No longer are the younger generation prepared to buy into filters, photoshop and editing.
“We have all seen the stats around Gen Z – socially, environmentally and ethically more conscious than any generation before them. This couples with the authenticity and reality we’re now seeing in the content they produce and the platforms they use. Brands are having to go with them, and to be comfortable placing themselves in the stories influencers tell, rather than paying influencers to tell their story.”
