It’s only been a matter of time before new video apps are introduced to rival the infamous Tik Tok. Low and behold, US-based app “Triller” could be the new market challenger we have all been anticipating.
“Triller” is approximately valued at $130 million (according to the Wall Street Journal). Unsurprisingly, Warner Music Group, Universal Music Group and Sony Music Entertainment each own a minority share in the company with licensing agreements, proving the company’s promising potential market leadership and dominance. In a spike against Tik Tok’s contentious censorship problems being a Chinese-owned entity, “Triller” aims to position itself as the solution. U.S Senator Marco Rubio expresses his concerns:
“As a U.S company, Triller is laser-focused on the protection of our community from the prying eyes of nefarious parties or political agendas, which has been a clear issue among our competitors.”
So what exactly is “Triller”? It’s very similar to Tik Tok, with the music video quality intentions of YouTube. Part of the charm is that it is accessible to everyone and encourages user-generated content intended for amateur content creators. Launched in 2015 by music video director Colin Tilley, Triller is an entertainment media platform of a social video community where music is the driving force which incorporates one’s personality, music, dance moves with the viral potential to be easily shared.
It’s true that an ADD society opts to consume content in bite-sized chunks (30 seconds if you’re lucky), leaving a short window time frame to make an actual genuine impression. This is where apps like Triller come in.
The way Triller works is that a few seconds are plucked from a hand-picked song, where users create a few snaps of video content. Proceeding with a simple tap button, there is now a ready-made celebrity quality music video, ready to be shared to a mass audience. Relying on organic growth, even celebrities such as Vanessa Hudgens and Kevin Hart are playfully adopting the app. That simple. That accessible. Sounds enticing?
Triller’s biggest differentiation to their competitor Tik Tok is that they seek to work first-hand with artists, labels, and creators to aid in promoting and sharing their work across all virtual social media platforms. They seek to put the creator first, without the censorship, with the goal of elevating artists to ‘Demi-God’ status through the AI induced platform.
The AI-powered app recently raised $28 million, led by Proxima Media with the acquisition of the AI Music Platform MashTraxx. “Triller” has adopted an aggressive growth mindset strategy of overtaking Tik Tok as the new market leader, aiming to be the newly defined youth-oriented platform.
Triller has already grown 500% in the last year alone and is showing no signs of slowing down. The app now houses approximately 13 million active monthly listeners as well as 60 million total downloads. Triller allegedly now has the highest engagement with a clocked average of 20 minutes per day regarding time spent scrolling on the app, and an hour spent a day by its creators.
The recent funding for the app will continue to energize future growth in terms of content creation and future artist discovery in the music industry. With Silicon Valley veteran investor, Mahi de Silva also adopting role as Chairman, de Silva has been integral to directing the company from start-up to Unicorn status, which has an estimated valuation at over $10 Billion.
Who knows, the next Lil Nas X overnight sensation story might emerge from Triller. Triller has already succeeded in helping Tyga go 6x Platinum with Taste as well as YG go 2x Platinum with Big Bank. Other artists that Triller has played a hand with include Chance The Rapper, Halsey, Meek Mill, Lil Baby, BTS as well as DaBaby. According to CEO of Triller, Mike Lu,
“Triller prioritizes creators, allowing them to showcase their work and connect with their audiences through the universal language of music.”
Competitor app and market leader Tik Tok is currently tongue-tied as it faces investigation for national security concerns where the company allegedly shares the data of its U.S citizens with China. Other quandaries surrounding Tik Tok relate to the censorship of content, in order to appease the Chinese government.
It will be interesting to gauge whether teens (the primary demographic for Tik Tok) of which there are around 1 billion active users, will migrate to competitor apps such as Triller in the future. Currently, Triller is valued at over 13 million users still leaving ample room for growth for the San Francisco start-up. An AI-driven app such as Triller, punctuated by ads and fun videos with a primary focus on the user, is a definitive rival to apps such as Tik Tok.
Who do you think could be the next viral Triller success story? Will this US start-up displace Tik Tok? Let us know what you think in the comments below!
