The immense popularity of social media apps like TikTok is undeniable and it is not going to slow down any time soon. This social media app has gained recognition as one of the preferred entertainment options for adults and teens alike.
Looking at the popularity of TikTok, everyone wants to replicate the business model of TikTok and build a similar app to attract countless users across the globe.
If you are planning to create a social media app like TikTok, this blog would help you how to build a similar app, the features to be included, the tech stack to be considered and the cost incurred to build an app like TikTok.
About TikTok?
TikTok is a social media application that enables users to create their videos, edit them and share them for users across the world to view.
The app also helps the users create short videos with lip sync added to the background music. Sensor Tower reports say:
- TikTok has received 1.1 billion users worldwide from App Store and Google Play.
- TikTok attracts more than 500 million active users every month and this number is growing constantly.
- The app was the most downloaded application in the App store in the first 3 months of 2019. It had more than 33 million downloads
- According to Sensor Tower, the developer of TikTok earned $75 million through in-app purchases.
Why TikTok Is So Popular?
Here are some factors that make TikTok so popular :
- 41% of the users engaged on this app are young (between 16 to 24) who spend most of their time on smartphones and social media.
- 15 seconds easy to create short-form content which helps users get attention from users worldwide in the shortest span.
- The involvement of brands and celebrities in the app accelerates awareness and engagement.
- Helps earn money as users can associate with brands, participate in contests and get prizes or gifts through live streaming.
Key Features For Social Media Apps Like TikTok
Talking about TikTok, it offers different functionalities like re-sharing content, sending likes, following, etc., Apart from these functionalities, the app also offers some advanced features to boost user experience. So, TikTok like app development process should include the following features.
Video Uploading
This feature allows users to upload video content of a max of 15 seconds to their TikTok account. Also, it helps crop, rotate, edit the playback speed and share the video with your closed ones.
Tools For Video Editing
TikTok offers an amazing toolset to help users to modify their video, change the effects of the video like modifying the eye color or edit lip-syncing videos. To make your video even more interesting and engaging, the app also offers a range of masks, animations stickers, and slow-motion effects.
Reactions
Users make videos to respond to music videos created by others and post them in the videos.
Live Streaming
This is a premium feature that comes with TikTok wherein video makers can create live streams and get online goods sent by their fans purchased using TikTok Coins.
Sound
This feature lets users make short videos and add the songs of their choice as the background music from the default TikTok library and include a lip-syncing function.
Social Sharing
Users can share the videos edited on TikTok to other social media platforms like YouTube, Instagram, etc.
Duet Option
The music videos can be made with lip-sync by TikTokers or users. They can also include the #duetwithme hashtag and request to have a duet with others users.
QR Code Scanner
Users can scan and use the QR code to subscribe to different music video application users.
Geolocation
This feature shows the active users nearby who make broadcast streams and short videos.
Essential Steps To Build a Social Media App Like TikTok
1. Market Research To Gather Information About The Target Market
The first step towards on-demand video streaming app development should be to research the details of your target market. It will help you get a fair idea of market dynamics, big players in the market, how customers engage with brands, and the current trends of the market. It will help you determine your business goals too.
Make sure you perform thorough research to know your target audience. To know more about your target audience you should gather details on the following elements for the users:
- Demographic profile
- Behavioral trends
2. Pick The Right Monetization Model
After identifying your potential audience, try to select the right business model for your TikTok-like app. Let us have a look at the different monetization models you can choose from for your video editing app
In-app purchases
Users can buy in-app purchases with coins using real money to support different live broadcasters.
The coins & gifts can be exchanged by the followers to give them to their respective live streams. TikTok offers the coins in bundles that range from 100 to thousands and the price ranges from 99 cents to dollar 99.99. This monetization strategy can help you earn profits in the long run.
3. Fundraising
Fundraising can bring in investments for your app in the initial stages. This strategy is about gathering money in form of donations from businesses or individuals. Just like TikTok, fundraising can be among the best earning sources for your app as well.
4. Advertising
It is yet another feasible and profitable monetization strategy for your app and includes
- Cost Per Click.
- Cost Per Mille
- Cost Per Action
After learning about the business models, let us know about the TikTok-like social media app development process.
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on-demand video streaming app development cost
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