Chinese owned video social network platform – TikTok is rolling out a new app in Europe that gives people cash incentives to watch videos.
The app, called Coin App within the company and TikTok Lite to the public, is being launched in Spain and France, according to a leaked report. It is expected to be rolled out to other countries in Europe where popularity is reportedly dwindling, but nothing is mentioned “about other countries in the rest of the world.”
The incentives
There is also no specific data about the launch of this new app, although those at TikTok wish to gain more visitors and users, especially adult audiences to the app.
According to The Information, through the new offering, TikTok is encouraging users to watch videos, invite friends to sign up and other actions by awarding them points that they can redeem as gift cards or digital tips.
This comes as the video social networking platform is losing grip on the European market, forcing the company to come up with a strategy.
Unlike other apps, the app is designed to boost growth for the social media network among people who are 18 years of age and older. According to The Information, the rewards also include digital tips that will be given to creators.
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Boosting activity on the platform
This comes as TikTok recently introduced a Creator Rewards Program meant to encourage creators generate more earnings and “unlock more opportunities by sharing their longer content.”
“We’re excited to share that Creativity Program is out of beta. As we officially introduce Creator Rewards Program, we look forward to continuing to partner with our creators and helping them realize their full potential,” announced TikTok.
The program, premised on four metrics – play duration, search value, originality and audience engagement are meant reward high quality and originality, according to the social media platform.
The initiative is one of the attempts the ByteDance-owned company is making to lure users to the platform and consolidate its market share.
Looks like TikTok is launching a new app for photo posts called 'TikTok Notes'. pic.twitter.com/xTbgcGxJno
— Alex Friedman 🤠 (@heyalexfriedman) April 8, 2024
Diversifying into photo-based network
Now, TikTok is planning to introduce a photo-based social network as it directly competes with Meta’s Instagram. The app – known as TikTok Notes will be for sharing pictures.
According to TechCrunch, TikTok users have in the past few days been receiving pop-up notifications about the new app to share images.
The notifications indicate TikTok will soon debut a “new app for photo posts” called TikTok Notes that will enable users to share photos on the app. However, users also have the freedom to choose not to post their images on the new app.
“As part of our continued commitment to innovating the TikTok experience, we’re exploring ways to empower our community to create and share their creativity with photos and text in a dedicated space for those formats,” a TikTok spokesperson told TechCrunch.
TikTok has not yet confirmed when the app will be officially available.
Cut-throat social space competition
TikTok’s move into photo-based network will increase social media network rivalry with Meta who are fiercely competing for users.
While TikTok takes on Instagram with its upcoming photo-sharing app, Meta introduced a “vertical-first video player for Facebook.” On the other hand, TikTok is toying with different video formats like 30-minute long videos and text based posts just like Threads and X platform.
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