Calling It: Online Video is Now Old Media – and Was TikTok Just Dethroned?

This Week: It’s the first week of August and here’s what you need to know.

A baby doll with a red hat

Description automatically generatedOnline Video is Old Media: The gogo growth days of social video are fading. It’s time to admit that we’re in a maturing industry now. During online video’s rapid growth, capturing creators and signing up new users were paramount. But now everyone already logs into YouTube, Meta and TikTok – and brand affinities are mostly set. There are few new eyeballs left to entice. Platforms mostly copy each other rather than innovate – what I call the carcinization of social. But investors and Wall Street still demand quarterly growth. From market share poaching to cutting costs and building adjacent businesses, today’s mostly new platform CEOs have changed strategy.

Forget disruption. TikTok, Meta and YouTube today seem more like ABC, CBS and NBC back in 1980, or Yahoo, CNet and @AOL in 2,000. I’ll have more about this – and how you need to change to survive too – in a post later this week (linked next week here).

Battling TikTok by the Numbers: Is TikTok still on top when it comes to short form video usage? Meta says it’s now delivering 200 billion daily Reels views, netting $10 Billion annual revenue. Zuckerberg claims parity – as TikTok grossed $10B last year. YouTube chimed in with its own rosy results, claiming 2 billion verified users watching Shorts every month – bigger than TikTok and Reels. When it comes to hearts and minds, TikTok is still far ahead. But the “stealing market share” moment has arrived for short form video too.

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NEWSLETTER SPOTLIGHT: Want to keep up on the intersection of media, creators, and advertising? Don’t miss Brian Morrisey’s weekly newsletter “The Rebooting”. Morrisey is an OG media vet, smart, insightful, and always ahead of the pack. This week he talks about how events are core to today’s modern media companies, and interviews a top Bloomberg exec on AI and news. Well worth a sub.

(**note this is a newsletter collab, but I read Brian religiously and link more than occasionally).

LIMERICK OF THE WEEK – which I posted to TikTok.

There once was a platform named TikTok

Where users danced and sang ’round the clock

But now text posts abound

A new trend’s been found

And the Twitterverse is fully in shock

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