Short Video Platforms’ Dominance despite the Covid-19 Pandemic: Mathematics & Economics Essay

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Short Video Platforms’ Dominance despite the Covid-19 Pandemic
The covid-19 pandemic brought about unprecedented challenges that touched on almost all sectors. Corporations were thrown into a frenzy on salvaging their fortunes and remaining sustainable even though they were sure that their market had been disrupted (Jufang 2). The problem extended to governments' functionality because the revenue streams would diminish, and stimulus programs were to be implemented to ensure the majority of the operating companies remained afloat. This consideration was important because these companies employed a bulk of the population and maintained communities' sanctity. Unemployment due to Covid-19 has brought about various disadvantages to the social, political, and economic structures that each government wishes to prevent. It is crucial to provide checks and balances to ensure it maintains an upward trajectory. However, technology companies were given a lifeline in this pandemic due to the effects of movement restriction and social distancing measures. Giant technology companies like Facebook and Amazon have continued to thrive as well as short videos creating and sharing companies that recorded a steady increase in regular users and revenues. Although their functionality and customers are the same, Tiktok emerged as the top short video because of its unique business model.
Reasons for Short Videos Platform Popularity
Movement and socializing restrictions recommended by the World Health Organization because of the pandemic changed the working and social structures familiar in all sectors. Most companies were shut down after they downsized, and revenues dropped. Eventually, people were forced to spend more time in their homes, either idle or working part-time from remote areas. Learning in schools was also affected as schools were forced to shut down, leaving students with no choice but to stay home. Short videos became platforms that people could record themselves enjoying popular content like videos and songs, thus contributing to their popularity and success (Jufang 1). The short video-sharing media have developed into entertainment giants embraced by people worldwide.
In the current generation, video creation and sharing are not just for YouTube teenagers and huge TV brands but also for any brand and anyone wishing to improve their sales or share any contentment. Short video platforms have made it easy for people to create, edit, and share content concerning their personal lives, business, trending news, and funny clips, thus gaining popularity. Short videos have created platforms that companies can rely on to market their products and services online, reaching most people (Jufang 2). Short videos rise with the 00s and 90s existing trends whose request for individualized expression keeps getting more robust with its hobbies and interests becoming more variegated. The short video platforms have also created employment opportunities by employing more tech companies to specialize in them. Facebook and Tiktok are among the most downloaded social platforms worldwide during the pandemic (Iqbal n.p).
219075000Social platforms download in 2020
TikTok's and Facebook Background Information
Tiktok app was created by Zhang Yiming, a man at the age of 35 living in China and the owner of ByteDance, which has also significantly grown alongside TikTok. In 2015 the app Musical.ly surfaced on social media, gaining its popularity with teenagers who were the majority of users. It was the best way to share short lip-syncing clips and had acquired above 200 million registered users by 2017. In 2016 the Chinese developed a similar rival app by ByteDance Technology Company that was only available for china users; first, the app was renamed to Tiktok later and became an international up gaining over 100 million users spun off a year. Tiktok, therefore, grew more prominent and became successful by buying Musicaly.ly and merging it with the new Tiktok creating a unified brand. ByteDance added more features to the app and upgraded its recommendation engine, including allowing users to comment and respond to videos shared, giving them a sense of belonging and participation. The retention rate of the app keeps rising, which is a big win for the ByteDance Company. Tiktok is now the global phenomenon that everyone is talking about and wants to create content (Jufang 2). The app has also managed to keep thriving and succeeding amid the Coronavirus pandemic.
Facebook is an American company that offers social network services founded by Chris Hughes, Dustin Hughes, Eduardo Saverin, and Mark Zuckerberg. Harvard students in the year 2004. Facebook is among the leading social networks globally, that gained over a billion users by 2012. Its headquarters’ are in California, Menlo Park. Facebook access is free, and the social platform gets its revenue from ads. Newly registered users can create profiles, create new groups, join other groups, and upload their photos or other content.
Short Video Platforms Success
Various reasons have substantially contributed to short video platforms' growth and success despite the covid-19 pandemic. Most people get caught up in need to maximize reach by creating a considerable fun base determined by the number of followers or subscribers. For example, Tiktok recorded around 800 million active users in November 2020 (Omnicore Group n.p). The total number of Tiktok downloads range at around 1.65 billion at the same time. Short video platforms have been more efficient in achieving this because they contain certain features for rewarding and promoting people’s content. Social media, through video platforms, has driven the meme culture to the next level, providing Gen Z g with a platform that allows them to be themselves and let brands motivate their followers in entertaining and authentic ways.
The majority of social media platforms have grown exponentially because they are convenient and easy to edit and share content than other platforms such as Snapchat or Instagram. Anybody who has access to a smartphone can easily use these apps to create and share content. The Tiktok app's format is strictly limited to clips with a maximum of 15 seconds, making the creation and watching easy, fast, and without much effort. Besides, the app is niched, making it unique because it familiarizes the existing young generation who have embraced technology and spend most of their time online as a leisure activity. The app is appealing to them and captures their attention by showing short comedy clips pleasantly related to their everyday lives. The content is not prepped or staged to be perfect, yet it captures the most realistic life situations (Jufang 3). The app also shows customized content depending on the users' preference, which is made possible by its AI algorithms that are advanced and authentic.
Another reason behind the short video platform's success is that companies can grow by using catchy advertisements to market their platforms (Fontaine, Gilles, Christian, and Pumares 38). For example, Tiktok has also provided the masses with high creativity levels concerning content and video creation. Tiktok initiated challenges where people could imitate moves and lip sync or modify artists' content. Apart from entertainment, it also became a platform to gain popularity, and more people were attracted to it. With a global reach, the company snowballed, and none of its competitors can match it even when it faced sanctions in the American and European jurisdictions (Jufang 2). The discussion of Tiktok’s takeover then ...