The twelfth issue of U.S. industry analysis: The short-video industry in the United States.
The following is an industry analysis and data report on the short-video industry in the United States in 2024:
Industry Overview In recent years, the short-video industry has witnessed vigorous development in the United States and has become an important part of the Internet entertainment field. Short videos, with their features of being concise, rich in content, and spreading rapidly, have attracted a large amount of attention and participation from users, changing the ways people obtain information and seek entertainment.
Market Size and User Data Number of Users: As of August 2024, TikTok, as the leader in the US short-video market, has 170 million monthly active users, accounting for a considerable proportion of the total US population. Additionally, there are approximately 192 million TikTok users in North America, second only to the Asia-Pacific region.
User Growth: Globally, in just the past four years, the number of registered TikTok users has grown from 652.5 million to over 2.05 billion, an increase of 206.65%. Despite being banned in India and losing 200 million users, the number of newly registered users has more than doubled within the following three years, demonstrating its strong global expansion ability and market appeal. The US market has also benefited from this growth trend.
User Profile: TikTok users in the United States are mainly from Generation Z and Millennials. Among them, about 23.9% of users are aged between 18 and 24, 17.7% are aged between 12 and 17, and 25.2% are in the 25 - 34 age group. In terms of gender distribution, 48% of global TikTok users are female and 52% are male, and the gender distribution of US users is similar.
Usage Duration: From 2019 to 2024, the average usage time of TikTok users has steadily increased. It was about 27.4 minutes in 2019 and almost doubled to 58.4 minutes in 2024, with an average annual increase of 7 minutes, indicating that users' stickiness to the short-video platform has been continuously strengthening.
Business Monetization and Market Value
Advertising Revenue: In 2024, TikTok's advertising revenue in the United States has achieved a significant breakthrough and is expected to exceed $17.2 billion, a 30.7% increase from $13.2 billion in 2023. Advertisers are attaching increasing importance to the huge traffic value of short-video platforms and have been intensifying their advertising efforts on TikTok, making it an important channel for brand promotion and marketing.
E- commerce Development: Since the launch of TikTok Shop in the US region in September 2023, it has developed rapidly. In the third quarter of 2024, the number of products with sales driven by short videos in the US region increased by 47% month-on-month, and the GMV (Gross Merchandise Volume) increased by 37% month-on-month. Moreover, it is expected that by the end of 2024, the number of influencers promoting products through their storefronts on the TikTok platform in the United States will exceed 2 million, and the sales volume in a single live stream will exceed the $5 million mark for the first time, demonstrating the huge potential of short-video e-commerce.
Content Ecology and Creation Trends
Content Types: Short-video content covers a wide variety of categories, including entertainment, lifestyle, education, food, fitness, fashion, and beauty. Among them, entertainment and lifestyle content are the most popular, attracting a broad user base. Meanwhile, educational content has gradually emerged, providing users with valuable knowledge and skill sharing.
Creator Economy: With the development of the short-video industry, the creator economy has also been thriving. More and more creators are showcasing their talents and creativity through short-video platforms, attracting a large number of fans and achieving commercial monetization. Collaborations between brands and creators have become increasingly frequent. Through cooperative promotions of products or services, a win-win situation has been achieved for both brands and creators.
Application of AI Technology: AI technology plays an important role in short-video creation and recommendation. Through intelligent analysis, platforms can provide users with more accurate content recommendations. Meanwhile, it also provides creators with more creative tools and inspiration, such as auto-editing and special effect generation, improving the efficiency and quality of creation.
Competition Landscape
TikTok's Dominant Position: TikTok, with its advanced algorithms, personalized recommendation systems, and rich and diverse content, occupies a dominant position in the US short-video market. Its strong user base and brand influence give it a clear advantage in market competition.
Other Competitors: Besides TikTok, social platforms such as Instagram and YouTube have also launched short-video features one after another, attempting to get a share in the short-video market. These platforms, relying on their original user bases and brand advantages, have also attracted a certain number of users, but there is still a certain gap in terms of user scale and market share compared with TikTok.
Development Trends and Challenges
Development Trends: In the future, the short-video industry in the United States will continue to maintain a rapid development trend. With the popularization of 5G technology and the improvement of network bandwidth, the viewing experience of short videos will be smoother, further promoting user growth and an increase in usage duration. Meanwhile, the integration of short videos with e-commerce, live streaming, and other fields will continue to deepen, bringing more business opportunities and development space for the industry.
Challenges Faced: The short-video industry also faces some challenges, such as the pressure of content review and supervision, user privacy protection issues, and copyright disputes. In addition, the intensification of market competition will also prompt platforms to continuously innovate and optimize to enhance user experience and competitiveness.
Summary
In 2024, the short-video industry in the United States features a large user scale, strong commercial monetization ability, and a rich content ecology. TikTok, as the industry leader, occupies an important position in the market but also faces challenges from other competitors. In the future, with the continuous progress of technology and the further development of the market, the short-video industry is expected to continue its growth trend and play a more important role in entertainment, e-commerce, social networking, and other fields.
Industry Overview In recent years, the short-video industry has witnessed vigorous development in the United States and has become an important part of the Internet entertainment field. Short videos, with their features of being concise, rich in content, and spreading rapidly, have attracted a large amount of attention and participation from users, changing the ways people obtain information and seek entertainment.
Market Size and User Data Number of Users: As of August 2024, TikTok, as the leader in the US short-video market, has 170 million monthly active users, accounting for a considerable proportion of the total US population. Additionally, there are approximately 192 million TikTok users in North America, second only to the Asia-Pacific region.
User Growth: Globally, in just the past four years, the number of registered TikTok users has grown from 652.5 million to over 2.05 billion, an increase of 206.65%. Despite being banned in India and losing 200 million users, the number of newly registered users has more than doubled within the following three years, demonstrating its strong global expansion ability and market appeal. The US market has also benefited from this growth trend.
User Profile: TikTok users in the United States are mainly from Generation Z and Millennials. Among them, about 23.9% of users are aged between 18 and 24, 17.7% are aged between 12 and 17, and 25.2% are in the 25 - 34 age group. In terms of gender distribution, 48% of global TikTok users are female and 52% are male, and the gender distribution of US users is similar.
Usage Duration: From 2019 to 2024, the average usage time of TikTok users has steadily increased. It was about 27.4 minutes in 2019 and almost doubled to 58.4 minutes in 2024, with an average annual increase of 7 minutes, indicating that users' stickiness to the short-video platform has been continuously strengthening.
Business Monetization and Market Value
Advertising Revenue: In 2024, TikTok's advertising revenue in the United States has achieved a significant breakthrough and is expected to exceed $17.2 billion, a 30.7% increase from $13.2 billion in 2023. Advertisers are attaching increasing importance to the huge traffic value of short-video platforms and have been intensifying their advertising efforts on TikTok, making it an important channel for brand promotion and marketing.
E- commerce Development: Since the launch of TikTok Shop in the US region in September 2023, it has developed rapidly. In the third quarter of 2024, the number of products with sales driven by short videos in the US region increased by 47% month-on-month, and the GMV (Gross Merchandise Volume) increased by 37% month-on-month. Moreover, it is expected that by the end of 2024, the number of influencers promoting products through their storefronts on the TikTok platform in the United States will exceed 2 million, and the sales volume in a single live stream will exceed the $5 million mark for the first time, demonstrating the huge potential of short-video e-commerce.
Content Ecology and Creation Trends
Content Types: Short-video content covers a wide variety of categories, including entertainment, lifestyle, education, food, fitness, fashion, and beauty. Among them, entertainment and lifestyle content are the most popular, attracting a broad user base. Meanwhile, educational content has gradually emerged, providing users with valuable knowledge and skill sharing.
Creator Economy: With the development of the short-video industry, the creator economy has also been thriving. More and more creators are showcasing their talents and creativity through short-video platforms, attracting a large number of fans and achieving commercial monetization. Collaborations between brands and creators have become increasingly frequent. Through cooperative promotions of products or services, a win-win situation has been achieved for both brands and creators.
Application of AI Technology: AI technology plays an important role in short-video creation and recommendation. Through intelligent analysis, platforms can provide users with more accurate content recommendations. Meanwhile, it also provides creators with more creative tools and inspiration, such as auto-editing and special effect generation, improving the efficiency and quality of creation.
Competition Landscape
TikTok's Dominant Position: TikTok, with its advanced algorithms, personalized recommendation systems, and rich and diverse content, occupies a dominant position in the US short-video market. Its strong user base and brand influence give it a clear advantage in market competition.
Other Competitors: Besides TikTok, social platforms such as Instagram and YouTube have also launched short-video features one after another, attempting to get a share in the short-video market. These platforms, relying on their original user bases and brand advantages, have also attracted a certain number of users, but there is still a certain gap in terms of user scale and market share compared with TikTok.
Development Trends and Challenges
Development Trends: In the future, the short-video industry in the United States will continue to maintain a rapid development trend. With the popularization of 5G technology and the improvement of network bandwidth, the viewing experience of short videos will be smoother, further promoting user growth and an increase in usage duration. Meanwhile, the integration of short videos with e-commerce, live streaming, and other fields will continue to deepen, bringing more business opportunities and development space for the industry.
Challenges Faced: The short-video industry also faces some challenges, such as the pressure of content review and supervision, user privacy protection issues, and copyright disputes. In addition, the intensification of market competition will also prompt platforms to continuously innovate and optimize to enhance user experience and competitiveness.
Summary
In 2024, the short-video industry in the United States features a large user scale, strong commercial monetization ability, and a rich content ecology. TikTok, as the industry leader, occupies an important position in the market but also faces challenges from other competitors. In the future, with the continuous progress of technology and the further development of the market, the short-video industry is expected to continue its growth trend and play a more important role in entertainment, e-commerce, social networking, and other fields.
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