When Dom Hofmann co-founded the six-second, short video app, Vine, he and his team forever changed the social media world. The speedy rise and subsequent fall of Vine is still remembered today, even though the app has been out of commission for years. References to favorite Vines are seen throughout current pop culture. Many influencers, comedians, and actors launched careers on the Vine app. After it was officially shut down there was a void in the social world, which many attempted to fill but were unsuccessful.
Musical.ly, a karaoke-like, short video app, entered the social media world in August of 2014, becoming the first successful video app since the loss of the people's favorite, Vine. Musical.ly? You may be thinking, I have never heard of Musical.ly. The reason may be that on August 2, 2018, Musical.ly and the Chinese based TikTok officially merged, breaking TikTok into the U.S. marketplace and filling the void Vine left behind.
Many people particularly enjoy TikTok similarities to Vine, allowing creators to produce short-form videos that express their creative side. The app relies heavily on musical influence for their videos, and its user base has become competitive with other social giants such as Facebook, Instagram, and SnapChat.
However popular with the general public, TikTok has been a bit of hassle and headache for advertisers. Unless advertisers are willing to shell out tens of thousands of dollars to become a TikTok Ads partner, or team-up with other advertisers to split the cost, it is nearly impossible to advertise on the platform. This is causing many frustrations as advertisers attempt to adjust to the direction of pop culture audiences. Due to the difficult nature of advertising on TikTok, marketers are looking for alternative solutions to fulfill the publics' need for a short-form video app, as well as the advertising world's need to reach consumer audiences.
What could that alternative solution be? Enter Dom Hofmann, the aforementioned co-founder of Vine, who has been working since December of 2017, on the resurrection of his trailblazing app. Now, just two years later, as TikTok is settling into a comfortable niche market in the social world, Hofmann has launched Byte.
Byte is the first true competitor to TikTok and will rely on its Vine roots by allowing users enormous amounts of creative freedom. The Vine successor doesn’t offer all of the augmented reality features that the Chinese-based TikTok does; however, Byte has built into its business plan something to draw the attention of everyone.
Byte plans to launch a program offering monetization options to creators who can prove themselves as influencers on the new app. This means, with the app being free to download, the money has to originate from somewhere; putting advertisers are on the edge of their seats. That's right, advertising on the new short-form video app is coming! Plus, Byte plans to be less of a hassle, and less expensive than the complicated TikTok advertising platform.
Currently, Byte does not provide an advertising option on the platform as it settles in accruing downloads, users, and influencers, that will later be leveraged by an advertising platform for advertisers. So, to all of you who are hungry to get your ads on TikTok, you may be better served to wait for the next Byte.