The most anticipated debut at the Cannes Lions 2019 Festival will be the Chinese video application TikTok. It began testing the advertising features and is going to fight for advertisers with Instagram and Snapchat.
The fact that TikTok has begun testing various products for advertisers, the Financial Times reported citing several sources familiar with the company’s plans. According to them, including TikTok tests the placement of standard vertical video ads, which are now actively using the service Instagram. Another study option is an advertisement that pops up on the screen. TikTok can also apply filters similar to those available in the Snapchat messenger in ads.
Also, according to two sources, the advertising format, in which brands will be offered to start their own viral video campaign, was of great interest.
Representative TikTok refused to confirm the details, noting only that the company “is studying many opportunities for brand partners.”
The festival in Cannes opened on June 17th. As FT writes, TikTok’s brand director Stephane Heinrich will present the application to advertisers on the main stage. Also, representatives of TikTok will speak at round tables, which are allowed only on invitations.
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“This platform has attracted many advertisers not only because of their scale but also because of their target audience – the Z generation,” says Simon Marina, senior director of paid marketing advocacy at the Mindshare WPP. She notes that users spend on average TikTok 46 minutes a day, and the number of movie views per month reaches 37 billion. “This is a crazy audience,” said Marina.
According to analysts and advertisers, one of the obstacles to advertising monetization of the service may be the lack of an exceptional service that allows advertisers to buy advertising and track the response to it online. Advertisers are now forced to request this information in the TikTok sales department. According to Martin, the company intends to present the appropriate tools for advertisers this year.
TikTok owns a private Chinese based ByteDance company, priced at $ 75 billion. The app allows users to watch, create, and share short videos, usually with pop music. As Bloomberg wrote in May, TikTok’s application worldwide has been downloaded more than a billion times.
Now the company is working on promotion in the United States and Europe, and for this attracts veterans of large technology companies, writes FT. In particular, TikTok hired Blake Chandler, who once became the first Facebook employee in Europe, as well as Vanessa Pappas from YouTube.