As we saw in Finding Success In 15 Seconds, TikTok experienced a meteoric rise in 2020. But its explosive growth has hit a wall in the form of suspicion that the app delivers data on users to the Chinese government.
That suspicion has led India to ban the app altogether, and other countries have recommended users who care about maintaining some privacy delete it from their phones. This creates an opportunity for rival platforms.
Some of those are spun off from established social media giants like Instagram and YouTube. But there are also brand new ones built up with and for Gen Z like Triller, an AI-driven music video and entertainment platform based in the United States with a global audience.
Last year, Triller raised $28 million in a funding round led by Proxima Media. In June, Triller hit 50 million monthly active users, and they anticipate even more as the Indian ban leaves 120 million former TikTok users seeking an alternative venue.
Triller is now home to Josh Richards, the co-founder of digital talent management firm, TalentX Entertainment. He is not just putting his talent there but his money as an investor and stepping into the role of Chief Strategy Officer at Triller.
Social media celebs like Griffin Johnson and Noah Beck have also jumped ship and are serving as advisors and equity shareholders. They are in company of a fair number of other celebrities who have also invested in the platform, including rappers like Snoop Dogg and Lil Wayne.
Music is at the heart of the platform, which has music licensing partnerships with studios like Warner Music Group, Sony Music Entertainment, and Universal. These partnerships free users from navigating license fees when they incorporate pieces of music in their content.
Triller has already been instrumental in Tyga go 6x Platinum achievement for “Taste,” and YG go 2x’s for “Big Bank.” Lil Nas X credited it for the successful launch of “Old Town Road.” The app is also used for music promotion by top artists such as Chance the Rapper, DaBaby, Halsey, and BTS.
Will the new kid on the platform block knock off TikTok altogether? Only time will tell.
