TikTok Streaming Service?

Can TikTok Go Hollywood?

June 28, 2022

It's safe to say that TikTok has secured its place as the go-to social media option for younger generations. The service had around 1 billion users in 2021, which pales in comparison to Facebook (almost 3 billion) and YouTube (over 2.5 billion), but its growth rate shows its a huge contender. The company could easily leverage that growth by leaning into on-demand content streaming --- with a catch. 

Could TikTok Rival Netflix? 

With Netflix and even cord-cutting services staring down a tough sell among Generation Z, services are going to have to get crafty in how they attract users. TikTok could leverage that desire for content and discontent with the market among Gen Z by offering long-form, curated content. But it would have to do it wisely or risk losing its shirt.

1. What Do People Want from TikTok?

This is the biggest factor that could prevent TikTok from trying to compete head-to-head with Netflix. When people think of TikTok, they're looking for short-form, user-generated content. However, there's a fair amount of production-quality content on TikTok that does quite well. In fact, some of that has already started as Hollywood is

as a source to both find new talent and lean into the channels these influencers have already created. 

Nonetheless, most people aren't going to TikTok so they can sit through 30 minutes episodes of 1.5- to 2-hour movies. At worst, they'll turn to YouTube for that, where long-form content actually thives these days. So what's the solution? Consequently, it could be in following (but improving upon) the footsteps of failed service Quibi.

2. Wait...Do What Quibi Did?

Essentially, yes. TikTok could take a lesson out of the book of Quibi by offering short-form content. Quibi failed for a lot of reasons. Some of it was because yes when people want engaging stories, they don't like that content broken up into bite-sized chunks that are too small. Hitting that sweet spot of just-long-enough is hard, as

(though they do work). The problem with trying to tell a story over too many shorts would be that every mini-episode needed to end in a cliffhanger. That can be exceptionally frustrating to storytelling. 

What Quibi did get right was that conceptually, and in practice, people are consuming bite-sized content and enjoying it. If TikTok went the route of production-level content, it would need to get creative not to make the same mistakes Quibi did on how that content was crafted. 

3. A Good Monetization Method

At present, TikTok is completely free to use. Its primary monetization method is through ads, much like every other social media service. Still, if it had a paid tier with monetized, Hollywood-quality content, it could probably charge a little for that content. Even getting 1% of its current subscribers to sign up to a paid tier would net it 1 million subscribers. 

This Week's Streaming Guide

1. Hulu's Hit Show 'Only Murderers in the Building' Returns for Season 2

Starring Steve Martin, Selena Gomez, and Martin Short, the surprise hit comedy/mystery comes back for Season 2 TODAY (Tuesday, June 28) on Hulu. -

  2. Baymax! Season 1 Premieres on Disney+ 

The surprisingly heart-warming movie Big Hero 6 now has an offshoot series. Enjoy BayMax! this Wednesday (June 29) on Disney+. -

  3. Highly-Anticipated Stranger Things Season 4: Part 2 Premieres 

We know you've been waiting for this. Get the popcorn ready, as Stranger Things Season 4: Part 2 premieres this Friday (June 30) on Netflix. -

4. Prime Video Action Thriller The Terminal List Premieres

With notable hints of other "you can't leave the spy game" TV shows and movies, Prime Video's new show The Terminal List is sure to please. Streaming this Friday (June 30). -

News and Industry Developments

1. What Will Ads on Netflix Look Like?

Some thoughts on the matter. -

2. Hulu Has Started Cancelling Shows Quickly, Just Like Netflix

It is giving shows more of a fighting chance, however. -

3. Cord Cutters News Shutting Down in Sign That the Market is Shifting

Once the go-to place for news in cord-cutting, Cord Cutters News (purchased by Red Ventures a few years ago) is shutting down. -

4. Will Live Sports Disappear from Traditional Cable TV?

Cord-cutting is making it harder to sustain the old model. -

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