Tiktok Replaces Youtube as a Major Sponsor for VidCon2021
Youtube has been the headline supporter of the VidCon since 2013, but Variety reported that Tiktok has signed on to become the major sponsor for VidCon2021. It seems like to be a changing of the guard in the digital creator space, doesn't it?
"TikTok has signed on as the title sponsor for VidCon US 2021, which is set to return to the Anaheim Convention Center Oct. 21-24. YouTube said it will still be in the mix among the secondary sponsors, but the change marks a shift in the event - and more broadly, the creator economy - to embrace multiple platforms." said Variety.
And with Tiktok as a major sponsor this year, the short-form video leader also serves as a key focus in the VidCon schedule. Youtube still offers more lucrative monetization options for creators but Tiktok is still evolving and building out its eCommerce and influencer marketing opportunities as well as becoming a more recognized space for creators' discovery and growth. Which, this can become a key consideration in the race to retain top talent and also points to the rising opportunity for creators on Tiktok alongside with its growing popularity.
Shorts feed is Youtube's Tiktok-like option that has been launched already and has recently expanded to more regions, as Youtube is well-aware of the threat Tiktok poses. According to Youtube, Shorts has already grew from 3.5 billion at the end of 2020 to 6.5 billion daily views today. It also launched a new $100 million fund to assist top Shorts creators and provide more incentive for Shorts posts.
While the VidCon sponsorship is merely symbolic in respect, it is still relevant to both platforms as that association, especially for video creators could play a big role in boosting Tiktok's status and its community.
"As the title sponsor, TikTok will have top talent and execs participating in all three of VidCon’s tracks (Community, Creator and Industry) and will have the keynote address spot."
In the end, top creators will be pulled towards the platform that will provide them the most earnings potential. which Youtube and Facebook will most likely win out in a long term basis. Youtube is still the clear video leader but Tiktok can pitch its offerings, and being VidCon's major sponsor is a great move either way.