Moj and Josh which are Indian short film platforms had spent millions to acquire content creators, but achieving the popularity and network effects of the same level as TikTok’s is still a long way which was confirmed by the industry insiders. Many brands are unwilling to run campaigns on the new platform after TikTok was banned in June, because of immature ecosystems and a lack of engagement. A marketing expert said on condition of anonymity. Both of the Chief Executives of the two highest influencer marketing firms commented that until the industry has matured, the clients are advised to wait.
CEO of Zefmo Media which is an influencer marketing firm, Shudeep Majumdar commented that the idea of embracing other short-video platforms by the influencer marketing industry is yet to be accepted. He also pointed out that this was flowing from the side of the brands also the social media agencies and influencer marketing platforms. They tend to share genuine feedback with their clients, that if it’s not TikTok, then they have decided not to go with any other alternatives. According to him, no platforms have achieved the critical mass that TikTok had. Other platforms has never matched up with TikTok since it used to harbor a complete ecosystem.
CEO and founder of Mad Influence, Gautam Madhavan commented that most of the brands are not ready with the idea of experiments with the new platform because they don’t see a lot of traction there. But from Instagram people have started experimenting with Reels because of its better traffic than other platforms.
In terms of digital spending, there is major traffic that is still directed towards Instagram and YouTube. Madhavan said, talking about the new platforms, they are doing fairly well. Both Majumdar and Madhavan commented that it would take at least six months or more for the new short-video to evolve and mature to be on the same level as TikTok’s popularity. TikTok’s core intellectual property and the secret of its success which is the interest graph were not able to crack the algorithm of this graph. Right now, brands are directing their marketing spend towards an existing platform like YouTube, Facebook, Twitter, and Instagram.
