TikTok Continues to Add Functionality, Win Market Share

TikTok has obtained a license from IMDb to allow its users to include information about movies and TV shows in their videos and provide links to these titles through an in-app interface. Initially, this feature will be available to viewers in the US and UK. When a video is published with a tagged movie or TV show, the tag will appear above the caption. If a user clicks on the link, they will be directed to a page with more information about the title and a list of other TikTok videos that include the same IMDb tag. 

It is a logical move for IMDb to partner with TikTok, as it indirectly helps its parent company Amazon by increasing the usefulness of TikTok and potentially harming one of TikTok’s main rivals, Meta. The partnership also has positive effects for small businesses. A recent Capterra study found that 78% of small businesses that have run TikTok ads have seen a good return on investment, with the majority experiencing this success within six months.

According to the study, 52% of TikTok marketers plan to increase their spending on the platform in 2023. In addition, while fewer than two-thirds of marketers advertise on TikTok, a greater percentage (75%) post organic content on the platform. Among businesses that use both organic and paid content on TikTok, 72% find the organic content to be extremely valuable to their marketing efforts, while 55% feel the same about the paid content.

TikTok is popular among Gen Z users for its search capabilities, even if it requires less reading to find what they are looking for. The platform is designed to make discovery easy and entertaining, while also keeping users in the app. As a result, TikTok may pose a threat to platforms like Meta and Google, which have acknowledged the competition from TikTok and are working to appeal to modern users’ preferences. Small business platforms like Yelp may also have reason to worry about TikTok’s potential to take a share of their ad market.