Does YouTube have some competition now that TikTok has blown up?
With both TikTok and YouTube being video platforms, it is easy to see them as comparable and think that one may eventually take over the other.
Although YouTube and TikTok may be seen as competitors, each social media platform has unique advantages to offer their users. Here are some of the main differences between the platforms:
Intended Purposes
The main difference in the platforms is that YouTube is intended for longer videos, ranging from casual to more serious content, whereas TikTok is meant for shorter, creative and fun videos, such as dances, mini vlogs, etc.
Revenue Streams
YouTube
- Advertising: This is the main way that creators earn money on YouTube. To earn money from advertising on YouTube, creators must be a part of the YouTube Partner Program (YPP). Once a creator is apart of the YYP, they are eligible to earn money from ads that play during their videos or live streams (youtube.com).
- Channel Memberships: Users can pay a monthly subscription fee to access exclusive content from their favorite creators.
- Super Chat And Super Stickers: Subscribers can purchase stickers to use on the chat function during a creators live stream.
- Shopping: Many creators create custom merchandise for their channel and promote it on their videos.
- YouTube Brand Connect: Creators can use this feature to connect with brands and form content deals
TikTok
- Sponsored content: Similar to YouTube, TikTok creators can earn money from the platform by partnering with brands, and posting sponsored content where they are seen using their product or service
- Creator fund: Available in the US, UK, France, Italy, Germany and Spain for creators above the age of 18 with a minimum views count of 100K, the creator fund supports creators by allowing them to earn money for making creative videos.
- Live Streams: During live streams, creators can collect diamonds from their viewers, which are gifts of appreciation. Later on, the creator can redeem the gifts for money.
- Merchandise: TikTok creators often promote their custom merchandise in their videos, to help increase sales.
Content
TikTok: Popular creators on TikTok are typically high profile social media influencers. Additionally, because their videos are limited in length, they usually consist of dance videos, mini vlogs and short tutorials.
YouTube: As YouTube creators do not have a length restriction for their videos, YouTube videos tend to be more educational or informative, such as long tutorials, Q&A’s, Hauls, etc.
While YouTube and TikTok are both video platforms, it is clear that based on their business model and revenue streams for creators, they are quite different. Therefore, it is not likely that one platform will ‘take over’ the other as they are both unique and offer different opportunities.
Resources:
https://www.youtube.com/howyoutubeworks/product-features/monetization/#advertising
https://blog.hootsuite.com/how-to-make-money-on-tiktok-4-easy-strategies/
https://support.tiktok.com/en/live-gifts-wallet/tiktok-live/live-gifts-on-tiktok
