YouTube and TikTok’s new battleground
INDIANAPOLIS (WISH) — Nelson Spade, General Manager of Circulus Digital Media, WISH-TV’s full service digital agency and sister company, discussed the competition between video platforms including YouTube and TikTok.
“TikTok’s maybe a little bit behind in the world of YouTube. YouTube is the biggest video search engine in the world, but both are making a lot of plays and development in this space,” Spade said.
TikTok already has CTV apps for Samsung, Fire TV, and Vizio. They’ve made headway in market, but the recent job posting indicates they want to accelerate growth and capture more ad revenue in the channel. YouTube already has a powerful CTV presence and is the worlds largest video search engine. Acceleration here in form of YouTube Short recently teased a new suite for interacting with ‘short’ content. Along with this, there have been multiple new features for advertisers including Nielsen Digital Ad Ratings.
“The competitiveness really comes down to two things. It’s about getting your content into a space where consumers want to consume it. But also it’s about ad revenue right? So CTV Is the fastest growing space. from a digital spend perspective the last couple of years we’re talking about a $19 billion industry in 2022 major agencies across the country say they’re going to be spending over 50% more in that space as compared to 2021,” he said. “When you look at YouTube specifically, it’s really remarkable. It started as a website. It grew into a mobile app based platform and now they’re growing into the CTV Space.”
Spade explained the importance of having short form videos on connected televisions.
“It is clear that users want short form video. That’s very reverent when you’re thinking about the likes of Facebook, Instagram [and] especially TikTok. How it translates to the CTV space is to be determined a bit early in our opinion. A lot of it has to do with who can capture the scrolling environment. Were also used to it on our mobile devices that fuels short form video,” he said.
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