(Hypebot) — Real and threatened bans, UMG and others pulling tracks, mountains of bad press, and increased competition from Meta and YouTube are taking their toll on TokTok, just as the social platform may be forced to look for a buyer.
Last week we reported that Instagram passed TikTok in new app downloads in 2023 for the first time since 2020, making it the most downloaded app globally. Last year, Instagram downloads grew 20% compared to TikTok’s 4% growth, thanks partly to Meta’s popular TikTok-like short video platform Reels.
Now comes word that key 18-24 year old users are leaving TikTok. The average number of U.S. monthly users in that demo fell by almost 9% from 2022 to 2023, data from mobile analytics company Data.ai shows.
Ad sales growth is also flattening according to the Wall Street Journal.
Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, President of the Skyline Artists Agency, and a Berklee College Of Music professor.
