TikTok vs. Instagram Reels Vs. Facebook Vs. Snapchat vs. Twitter: who wins the social media race?
Parent Snapchat Snap, Inc. INSTANTANEOUS in late May warned of a shortfall in the second quarter, citing deteriorating macroeconomic conditions. This was seen by some as reflecting a broader industry-wide malaise.
Managing Partner Wolf Fund Gene Munster offered his perspective on the state of social media, based on his interviews with summer interns at his company.
TikTok is king: TikTok nabbed the 15- to 60-second video format, which became addictive, Munster said. Indeed, social media users don’t need to wait for the punchline, he added.
The analyst finds it easier to commit to a 15-second video than to commit to a 20-minute video.
“The irony is that even though the initial commitment is less, the total time spent ends up being more,” Munster said.
Although Meta Platforms Inc. META Instagram Reels and Alphabet Inc. GOOGL GOOG YouTube Shorts has the same format, TiKTok reigns supreme due to the depth of its content, the analyst said.
YouTube and Instagram, according to the analyst, are loyal, which they rely on for their short video features. The analyst also noted that young TikTok addicts are not worried about the Chinese government potentially having access to their user information.
Related Link: Facebook Vs. Snapchat Vs. Pinterest vs. TikTok: the trend of engagement in 2022
Losing Facebook and Snapchat: The younger generation uses Facebook and Snapchat as “apps to stay connected” but use them less frequently, Munster said. The only use cases for Facebook are to briefly check in on family content, occasionally get groups of friends together, and buy or sell in the marketplace, he added.
Snap usage, the analyst said, has declined over the past two years, in part because Instagram has copied many features from Snapchat.
Instagram to stay connected: Instagram has become the new “stay connected” app, especially for students, taking over from Facebook and Snapchat, Munster said.
“Instagram’s visual aspects have made it a fast and entertaining way to stay in touch with friends,” the analyst said.
Related Link: TikTok Rival ‘YouTube Shorts’ to Roll Out in US After Strong Reception in India
Twitter, aftermath of the metaverse: College students use Twitter, Inc. TWTR less because they’re less news-focused and more gaming and social media-focused, Munster said.
The analyst said he thinks this won’t hurt Twitter much, given that students aren’t a primary focus of the platform.
Young people were indifferent to the metaverse, but they were excited about its potential as Internet 2.0, the analyst said. In the short term, the metaverse still lacks the definition needed to generate excitement, he added.
“The bottom line: They can’t get too excited about the metaverse because they don’t really know what it is, and that awareness is going to take years to build,” Munster said.