ByteDance’s TikTok Is Rendering Facebook’s IGTV Obsolete

Facebook's (NASDAQ: FB) Instagram launched its video platform, IGTV, in June 2018, and it got off to a rough start. A lack of monetization options, the initial use of a clumsy vertical format, and poor integration with Instagram's core app all prevented it from gaining momentum. Meanwhile, ByteDance's TikTok, which plastered its ads all over Instagram, started gaining younger users with its short musical videos.

Instagram CEO Kevin Systrom, who spearheaded IGTV's development, also resigned in late 2018. Those factors, along with Facebook's development of its own video platform Watch, indicated that IGTV's days were numbered.

Image source: Getty Images.

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Source Fool.com