December 26, 2019
TicToc is a video news network from Bloomberg Media that was launched as a Twitter-based 24/7 streaming video network in December 2017. According to Bloomberg, it now reaches an audience of more than 90 million monthly views. Its audience increased by 79% in 2018 and had a ‘primarily younger demographic’. Recently, Bloomberg announced a rebranding of TicToc and merging it with QuickTake. QuickTake was launched as a brand that explained tim...ely topics to Bloomberg’s business and financial audience. The combined QuickTake by Bloomberg will concentrate all digital video resources in one company, comprise a new 24-hour streaming news channel, and have on-demand programming on multiple platforms, offering live coverage as well as longer-form features 5‒10 minutes in length, small documentaries, and the 1‒2-minute video on which the TicToc brand was built. Also, Bloomberg Media announced its OTT channel partners for QuickTake. Bloomberg Media CEO Justin Smith waits for a huge swing of television advertising or video advertising moving toward OTT because ‘OTT is now representing about 30% of actual television viewing’. Renaming also avoids confusion with ByteDance’s TikTok, a short-form social media app that was launched in September 2017 but did not rise in popularity in the US until it later merged with in August 2018. Now TikTok has surpassed 1.5 billion downloads according to SensorTower and has become the third-most downloaded non-gaming app of the year currently (behind WhatsApp and Messenger and above Facebook and Instagram).