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* We break down the new market indicators & behavioral consumer trends we're tracking, then figure out the unlock to growth & revenue.
ICYMI in the last 10 weeks we covered:
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* Social Media + TikTok + News 🔥
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ TV news is over! TikTok news is in! ]
- thanks ypulse! https://twitter.com/ypulse
When we ask young consumers what device they use regularly to keep up with news content, 74% of 13-39-year-olds say phone. That makes it by far the top device they use to keep up with news, outpacing TV which is in second place at 41%.
When looking at the specific platforms that young consumers are using to get news, 65% of 13-19-year-olds and 63% of 20-38-year-olds say they use YouTube.
Meanwhile, 57% of Gen Z who use social media for news use TikTok to obtain news and information compared to 29% of Millennials.
Gen Z—the generation more likely to use video-focused social platforms—is more likely to say that they keep up with their news via video, with 64% of 13-19-year-olds saying they do compared to 58% of 20-38-year-olds.
>> [ NBC News concurs! Gen Z loves it social media for news! ]
- thanks emarketer! https://twitter.com/emarketer
In fact, a recent NBC News poll of Generation Z, those born between the late '90s and early 2010s, found that 48% rely on social media to find news. For context, only 36% said they use network TV.
TikTok in particular has given a political platform to content creators from all walks of life. The video-sharing app's Republican Hype House account has accrued almost 900,000 followers, and Democrat Hype House has almost 200,000.
In addition to TikTok, both Instagram and Twitter are also popular sources, multiple teens told NBC News in a recent segment on Stay Tuned.
>> [ news outlets start to realize the power of tiktok! duhhh guys!! ]
- thanks shauna! https://twitter.com/ShaunaRempel
News outlets and journalists are realizing the power of TikTok as a storytelling tool, and they are smart to do so.
With a massive young, highly engaged user base, the short-form vertical video app’s appeal is understandable for newsrooms looking to reach new audiences.
Publishers that were quick to get into the space have been rewarded with an influx of followers and views, as well as invitations to take part in TikTok-funded programs.
Such success is possible because of TikTok’s immense popularity, uncannily accurate “For You Page” algorithm and publisher-friendly infrastructure, which has been impacted by both the global coronavirus pandemic and threats to its very existence.
>> [ the washington post goes all in on tiktok! ]
“TikTok is journalism in every sense”: How The Washington Post raked in 647,700 followers since its launch last year
- thanks wnip! https://twitter.com/wnip
When you say the name The Washington Post you don’t automatically think of 15-second viral dance videos and haiku challenges. Yet, thanks to the passion and vision of one man the venerable newspaper now has a hugely popular TikTok account, which has raked in 647,700 followers since its launch last year.
When asked whether TikTok offers anything more than just brand building, Jorgenson was unequivocal in his answer. “TikTok is journalism in every sense,” he said. “Pretty much every other TikTok has something news related in it and with that we are delivering news to the users. That’s what journalism is – delivering news however you are able to in a responsible way.”
According to Jorgenson, comments on the platform suggest people are starting to look at The Post on TikTok as a valued news source and are following up by going to the website.
>> [ now CNN wants some tiktok love too! ]
- thanks poynter! https://twitter.com/poynter
Journalists are using TikTok to reach a wider audience, find stories and teach media literacy as the platform itself seems to be changing.
Foster, a CNN anchor and correspondent based in London, began experimenting and making his own videos seven months ago.
Now, Foster’s personal account has more than 167,000 followers, nearly five times the number he has on Twitter. All of his content either explains the news or explains how he covers the news, and almost every video has a pop song in the background.
“People think that you can’t discuss complicated topics on TikTok, but that’s not true,” said Foster. “You just have to do it in a way that’s engaging and that’s what we should be doing as journalists anyway.”
He even finds stories and scoops through the app. Earlier this month, TikTokers tagged him in videos of protesters being pushed by police, which he quickly passed along to his colleagues at CNN to cover.
THE DOPE IDEA & THE BRAND EXECUTION:
* Taking the idea and amplifying that into tactical action.
See you next week for the second half of our two-part report.
We’ll discuss on how to position ourselves as a new player in the Social Media + TikTok + News space — and get into the development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.