We often talk about the battle between SVOD and conventional television. On several occasions, Reed Hastings, patron saint of Netflix, has predicted the death of television. We talk almost as much about the battle raging between the streaming giants. Disney+, Netflix and even Prime Video are redoubling their efforts to attract subscribers and win their loyalty. While Netflix has long dominated the market, the cards are being redistributed.
However, while they put a spoke in the wheels and they all together thumb their noses at television, the SVODs face an unexpected rival. And the latter seeks to settle comfortably on their throne. Indeed, according to Médiamétrie, the youngest are abandoning streaming platforms in favor of an extremely popular social network: TikTok.
SVOD vs. TikTok?
Original series here, price increases there… In their fierce battle against television and each other, the streaming giants failed to see that TikTok was gaining ground to the point of capturing the hearts of the youngest users. Thus, during the third quarter of 2022, 15-24 year olds deserted Netflix, Disney+ or even Prime Video to take refuge on TikTok. There is a 44% drop in the daily number of young viewers, ie 400,000 fewer people, while those who remain spend less time there. In two years, the streaming giants have lost 45 minutes of the attention of 15-24 year olds.
Today, TikTok stands out as one of the most popular social networks. It is the most downloaded application at the beginning of 2022. According to the firm data.ai, users spend around 23.6 hours per month on the social network. Almost a whole day! This would explain young people’s lack of interest in streaming platforms… In addition to being a platform for entertainment, more and more young Internet users are using TikTok as a search engine or as a source of information in its own right. .
By dint of consuming media on social networks, our attention span and concentration are in freefall. The youngest users seem to prefer shorter content to devour by scrolling to infinity than an episode of a series, or a 2 hour film.
With the emergence of TikTok, younger people have become accustomed to something happening in the first thirty seconds. So inevitably, an episode or a film can quickly bore them. The other social networks have understood this, which explains the arrival of Reels on Instagram or even Shorts on YouTube. Romain Gavras, who directed Athena for Netflix, told Vulture that he thought of making an opening scene that was captivating enough not to lose his viewer’s attention.
All the same, the content that creators offer on TikTok, as good and interesting as it is, is hardly comparable to a series or a film. Still, Netflix already hinted at TikTok’s shadow when it released its financial results last year. The streaming giant admitted that it competes with other SVODs, but also with other companies that entertain consumers. Like TikTok, YouTube and Epic Games. It remains to be seen if this lack of interest from the streaming giants on the part of 15-24 year olds will persist or if it is just a trend.
By: TikTok Pte. ltd.