TikTok gets a competitor – Reddit
The race to own the lip-syncing battle has been on for a while now, and it is making competitors push for anything just to get their lead – to an extent of getting executive orders to stop its prevalence. This year alone, TikTok has been banned in a number of countries including India and the USA which have sited security lapses as a reason for the bans, but it is growing like wildfire. The global consumption of video is a huge business making any new market entrant get to challenge the current players in ways that were previously unprecedented. There is really no big or small idea after all; it is how the market players get to push their products just to the right demographics. These companies are determined to grow the community users who are already supported by various existing platforms.
Yesterday, the social media giant Reddit announced that it acquired Dubsmash, a short-form social video company and a TikTok rival. The move will broaden Reddit’s reach into the video space and makes them a competitor with other video platforms such as TikTok. By acquiring the company Dubsmash it will help Reddit’s effort to become more inclusive and racially sensitive.
Starting off as a lip-synching app in 2015 Dubsmash starting to stabilizing be more of a social platform. Like TikTok, users choose a soundbite and record a video of themselves dubbing over the audio. But while TikTok’s megastars are primarily white, Dubsmash’s communities are driven by young, diverse creators with female creators are at 70 percent. Previously, Reddit has been known for its racist slurs and groupings that have marginalized the minority groups. The rising hate speech also was one of the reasons the then Reddit co-founder Alexis Ohanian resigned from the company’s board earlier this year,
Just like in all communities that are racially divided Dubsmash will act like a mediator for the Reddit team and between its communities. This will play a significant role in how TikTok is supported and eventually who wins the lip-syncing market.