Since its launch in 2016, TikTok has been downloaded over 2 billion times and is currently the most downloaded iOS app in the world. In response to TikTok’s success, YouTube has launched its own short-form video platform called “Shorts.” Shorts is available on TV globally starting today. YouTube has been testing the platform in India since September 2020 and it is now available in over 30 countries. The platform allows users to create 15-second videos with music and effects. YouTube has signed deals with major music labels like Warner Music Group and Universal Music Group to ensure that there is a wide selection of music to choose from. YouTube is also investing $100 million to help creators get started on the platform. This includes a $1 million Creator Fund that will be given out to creators who produce popular Shorts. So far, TikTok has been the dominant player in the short-form video space. However, YouTube is the most popular video platform in the world with over 2 billion monthly active users. YouTube also has a huge advantage in terms of reach and distribution. With the launch of Shorts, YouTube is now a direct competitor to TikTok. It will be interesting to see how the two platforms compete.
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