In early 2023, the entertainment app TikTok reached close to one billion users globally, placing it fourth behind the leading social networks: Facebook, YouTube, and Instagram.
TikTok’s business model had focused on advertising as the principle source of revenue and by 2023, the app had become irresistible to many marketers. Meanwhile, competition in the market for short-form videos had intensified when Instagram introduced Reels and YouTube launched Shorts – innovations that imitated TikTok’s approach. In addition, YouTube had focused on using its larger scale and generous ad revenue sharing to attract creators.
Can all four of these networks continue to attract audiences and creators — or will growing social media competition eliminate one or more of these big players? Harvard Business School professor Felix Oberholzer-Gee discusses competition and imitation among social networks in his case, “Hey, Insta & YouTube, Are You Watching TikTok?”
