TikTok and Instagram’s surging popularity over the years has led to short-form videos taking over the screens. With their creative content and addictive scrolls, they’ve transformed how users consume content, giving videos a serious edge over other platforms. This leads to a big question: Is there room for new social video apps to step in?
Well, as the demand for short-form videos skyrockets, it gets trickier for social video apps to take the crown from platforms like TikTok and Instagram. In this blog, we’ll discuss what it takes to compete with the big names in the world of social video!
Popularity of Social Video Apps
During the first three months of 2024, TikTok recorded an average of 18,173 views per video, making it the top social video app. Naturally, the evolving habits coupled with short-form content have changed the social video world altogether. That said, it’s evident that demand for creative, bite-sized videos isn’t slowing down anytime soon.
Why Short-Form Videos Work
Let’s be real; our attention spans are shorter than ever today. Short-form videos, around 5-90 seconds long, serve our shorter attention spans just right. These quick, hooking clips deliver all we need to know in under a minute, keeping us engaged without taking up much time.
It’s hardly surprising that creators focus more on bite-sized content than long-form videos to maximize views. Plus, features like likes, shares, and comments drive incredibly high engagement rates, which is a true win for businesses and creators!
Current Market Leaders
When it comes to short-form video production leaders, TikTok unsurprisingly leads the way, with more than a billion downloads from Google Play and Apple App Store users in 2023. Instagram reels don’t fall short either, with short videos getting more clicks than ever.
Then, there are YouTube Shorts, which allow creators to use up the platform’s massive audience to drive maximum engagement. These platforms lead the market, plus they all thrive on one main goal: to keep users glued to their screens and scrolling through.
Opportunity for New Entrants
While social video apps like TikTok, YouTube, and Instagram dominate, there’s still room for new apps to enjoy market share within the industry. For instance, certain gaps in the market, such as niche audiences, have yet to be tapped into.
Whether it’s content for travelers, fitness enthusiasts, or gamers, multiple opportunities for new entrants still exist. Additionally, new social video apps can use innovative features like advanced editing tools or better monetization strategies to stand out for creators.
Essential Features for Competitive Social Video Apps
Since short-form video trends are here to stay, it gives hope to new social app developers to come up with platforms that fill the gaps in the industry. However, since the space is already led by big names like TikTok and Instagram, the task is easier said than done. So, here are some non-negotiable features for new social video apps to compete in the market:
1. Advanced Video Editing Tools
For users to stick around for long, your content must be truly engaging and full of fun elements that surpass users’ expectations. Advanced video editing tools are a must, giving you an edge over the already-established platforms in the market. You can use trendy filters, smooth transitions, and highly sought-after music to produce more polished videos.
The goal is to keep users coming back to your platform and, of course, share the content. It’s only achievable if you make their time with you worthwhile.
2. AI-Powered Content Recommendations
Remember, the users don’t want to spend time on irrelevant content that they’re least interested in. With AI-powered recommendations based on their search behaviors, you can deliver each user the type of content they’re seeking (directly or subconsciously).
To get this right, AI algorithms analyze behavior, such as what users like, watch, or share throughout their day. This helps you serve short-form videos that perfectly match their vibe and keep them returning to your platform.
3. Community Building Features
As the name implies, social video apps thrive by building connections. Community-building features like follower systems, duets, and in-app messaging let users collaborate, interact, and build strong networks that skyrocket user engagement.
While this might seem small, feeling like a part of a community makes a huge difference. Incorporating these features makes your audience more likely to engage, share, and stay loyal to the platform.
4. Monetization Options
To build a competitive social video app, you need to ensure the creators on your platform get the reward they deserve. Simply put, adding solid monetization options is super critical in making them choose your platform over the rest. Similarly, you need to ensure your cash flow doesn’t stop flowing in, either.
The good news? Monetization features like in-app purchases, creator payouts, and ad integration give users a way to support their favorite creators. Plus, the platform keeps working well enough to generate the revenue you envisioned!
5. Analytics for Creators
While you build a competitive social video app, don’t forget to help creators gauge their performance on your site. Creators love to know how their content is performing, and it even nudges them to do better. You can add real-time analytics tools to track views, likes, shares, and engagement rates so they can see what’s working best for them.
With these strategies, they can refine their content strategy, put in hard work, and build a loyal audience that keeps returning to your newly built application.
Development Challenges and How to Overcome Them
Developing competitive social apps is no child’s play, especially if you’re new to the industry. It’s tricky to compete with high-performing platforms that users are incredibly loyal to. Inevitably, this brings a myriad of challenges to app developers, some of which might get them stuck. Well, here are the most common pitfalls and how to dodge them:
Scalability
Scalability is one of the biggest hurdles when developing a social video app. Handling millions of uploads, views, and in-app interactions every day means your platform’s infrastructure must be rock solid. If you don’t plan well, it’s only natural for servers to crash, which, in turn, pushes your audience away rather than attracting them.
Fortunately, there’s a way out to protect your scalability by investing in cloud-based services as your user base expands. Content Delivery Networks (CDNs) also ensure your videos play smoothly all along, no matter where your users are in the world. This will prepare you to handle growth as soon as your app takes off!
Data Privacy and Security
As with any custom software development, your social video apps must ensure user privacy and security before all else. Regulations like GDPR ensure that apps handle personal information carefully. Failing to comply, however, leads to hefty fines and threatened credibility.
To get through this, opt for encrypted data storage and secure login options like two-factor authentication to protect users on your site. Plus, inform users where exactly their data is used to fend off any doubts they might have. Users are more likely to stay on your platform once they’re sure their information is in safe hands.
Competition with Established Platforms
If you’re new to the industry, you probably know why competing with TikTok, YouTube, and Instagram seems like a mission impossible. With their strong resources and loyal audience, it’s easy to believe you don’t stand a chance, right? Well, there’s still a way to stand out: by finding a niche or focusing on an underserved market.
Even the key players lack exclusive content to target niche markets, and that’s what can help you shine. With a unique angle, it becomes easier to stand out, no matter how crowded the market is. While at it, don’t forget the engagement tools that offer the ‘cherry on top’ you seek.
FAQs
1. What challenges do new social video apps face compared to giants in the industry?
New social video apps face multiple challenges when competing against TikTok and Instagram’s massive user bases. For instance, they struggle to catch the creator’s eye, balance costs for marketing, and build trust among users.
2. How do social video apps generate revenue?
Typically, social video apps generate revenue through in-app advertising and in-app purchases, as well as by collaborating with other brands. In 2022, TikTok’s ad revenue hit around $9.9 billion, making much more money than the previous years via advertising alone.
3. Why is algorithm-driven content important to stand out?
Algorithm-driven content is the secret to standing out in a fiercely competitive market since it lets you personalize what users see to keep them hooked. It’s invaluable for new social video apps, paving the way for boosted engagement and customized experiences.
Conclusion
Although giants like TikTok and Instagram dominate the space for social video apps, this doesn’t mean the doors aren’t open for new names to pop up. With fresh ideas like targeting niche markets, adding unique features, and letting users interact, you can still deliver something users can’t find elsewhere.
Ready to create the next big social video app? Contact CodeBudee Solutions to book a free consultation with us to discuss your custom app idea and get a quote!
