TikTok remains the most downloaded app of 2021
Despite numerous challenges, including efforts from the US Government to ban it entirely, TikTok remains the most downloaded app in Q1 2021, beating Facebook, Instagram and Snapchat.
In terms of total monthly active users however, TikTok still has some catching up to do. Facebook remains dominant in this category and Instagram, WhatsApp, Telegram and Twitter all placed higher.
In addition to usage stats, a new report into app trends this year also shares insights into in-app spending, highlighting the massive impact of the Covid-19 lockdowns. In the past year, global spend on apps surged by 40 per cent, with £23 billion spent on in-app purchases across iOS and Google Play.
TikTok and Instagram are now considered a top source for financial advice
After the Gamestock frenzy, which started on Reddit and spread across TikTok and Instagram, Gen Zs are now five times as likely to get financial advice from social media than older generations.
A report from CreditCards.com has revealed nearly half of teenagers are learning about investing from social media. 38 per cent are turning to YouTube, a third are looking to TikTok and around a quarter are choosing TikTok for personal finance and investment advice.
Experts have warned against trusting advice from social media creators as it can be difficult to verify so-called experts and guarantee to be able to copy their results.
Clubhouse adds creator payments
After launching its Creator Accelerator Program last month, Clubhouse has now launched its first direct payment process, which will enable users to transfer funds to their favourite creators.
This is an important update for Clubhouse in keeping its top broadcasters active on the platform, especially as rival audio social options from the likes of Facebook and Twitter continue to appear.
Clubhouse will be hoping that monetisation options, such as this, will convince its creators to stick around rather than jump ship to a rival platform.
LinkedIn is developing its own audio rooms
LinkedIn is the latest platform to reveal it is working on its own Clubhouse rival to tap into the audio social trend.
Initial artworks of how the feature will look, show a very similar interface to Clubhouse. After entering an audio room, users will see a feature box for speakers at the top, then a listing of those tuning into the discussion underneath.
Both Facebook and Twitter are already working on their versions of the platform. Where LinkedIn might be able to differentiate itself from these is a greater focus on professional-based rooms aligned with specific sectors, helping users improve connections and build industry presence.
TikTok launches new video editor platform
TikTok has launched a new video editor tool that is designed to help brands create more effective, native-looking TikTok video clips for their channels.
The tool, which is accessible through TikTok ads manager., allows brands to choose from a range of effects, fonts and transitions that all match content produced on the mobile version of the app.
This could prove to be an effective tool for a marketer wanting to quickly design authentic-looking content optimised for the app without investing heavily in video editing.