Many of you that are reading this will be already aware of my views on Musical.ly. To be honest, it’s quite entertaining to see how oblivious some people are to the changes in technology and social environments that are about to happen.
One of the reasons why I’m so confident on the rise of Musical.ly is that it has happened before with Snapchat. As the initital demographic is “kids” under 20 years old, many are quick to think of it as a platform that will simply remain in that particular niche.
Remember how taking selfies was just for kids? And how Snapchat utilized that to become one of the fastest growing creative platforms of the century? Yeah, the same shit is happening again. Even the White House is using Snapchat as a form of communciation due to its high attention span as a social platform. But with the rise of Musical.ly, the concept of lip syncing and using music as a medium for creative output & monetizing content doesn’t seem so farfetched…
Over the next few months & years, businesses will be looking at underpriced attention such as influencers on Snapchat & Musical.ly. With consumers being constantly bombarded with advertisements, I expect that many large companies will be partnering with influencers in order to generate awareness and leverage their brand to an audience inspired by culture. To be honest, I wouldn’t be surprised if a large bank went and created content with an influencer. This shit is about to happen. And those who are willing to adapt are the ones who will win.
Sure, right now the majority of content on there is people lip syncing to music. I totally understand that isn’t what YOU will want to be doing. But that’s exactly what was said about Snapchat…. So I suggest that you educate yourself on the platform right now, and establish relationships with influencers in preparation for what’s about to happen. After all, for the exposure that your product gets, influencers are amazingly underpriced.
With over 200 million registered users, It’s pretty hard to disagree that the application is about to have a giant cultural influence amongst society. As it was purchased for roughly $800m by a Chinese media company, the average demographic of active users will mature over the next few months. Therefore, there is enormous opportunity for Musical.ly to enter the B2B market, as well as B2C.
Although it is early days, my assumption is that the application becomes more of a short-form video platform for content distribution. So for example, sports teams will be able to upload highlights of a game (such as a soccer goal), or news platforms uploading 10 seconds news bulletins. Essentially, it would become a major competitor towards Facebook, Snapchat, and Instagram.
Companies with Musical.ly accounts will be able to monetize videos, and therefore generate revenue directly from the app.
In 18 months time, I’ll write another article on the development of how Musical.ly helped shaped society & culture. I look forward to being correct.