TikTok's US operation is up for sale to one of several deep-pocketed suitors , something that could be the kiss of death for any ultratrendy social platform. It has many brands and their influencers on the platform asking now what?
"If you think of the (social) platforms that have thrived, it's because they have a core utility that consumers didn't want to let go of" says Nigel Morris, former CEO of global media agency Dentsu Aegis and investor in UK influencer agency Fanbytes , which has made a major shift toward TikTok. "About 18 months ago over 50% of the revenue through Fanbytes was running through Snap. Now over 50% is going through TikTok," says Morris. "TikTok is where Gen Z really wants to be."
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Whether Gen Z still wants to be there after TikTok is sold will come down to utility. "The utility of TikTok is that ability young people found to express themselves and quickly build up their own media channel," says Morris. The same can be done on YouTube, but Morris argues that TikTok feels like a private club for Gen Z. "It isn't shared with parents. It isn't shared with other generations."
Nigel Morris, former CEO of the Dentsu Aegis Network and investor in Fanbytes.
Nigel MorrisAuthenticity is a coin thrown around like a penny in influencer marketing circles, but Morris says it can't be emphasized too much. "The purity of not just the viewing experience but also the content creation experience" on TikTok will be the acquirer's to fumble with increased commercialization. Hoary old social platforms like Facebook and Twitter migrated to intense commercialization durably, but Vine, Snap and MySpace suggest ephemerality is more common. "It's absolutely buyer beware."
Nigel Morris had many more insights into the future of TikTok that he shared with CNET's Brian Cooley on Now What. Hear them all in the video above.
Now What is a video interview series with industry leaders, celebrities and influencers that covers trends impacting businesses and consumers amid the "new normal." There will always be change in our world, and we'll be here to discuss how to navigate it all.
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