Short video sharing platform TikTok, which is owned by Beijing-based technology firm ByteDance, announced on Monday that it will expand the maximum length for uploads to 10 minutes.
“Last year, we introduced longer videos lasting 3 minutes, giving our community more time to create and be entertained on TikTok. Today, we’re excited to start rolling out the ability to upload videos that are up to 10 minutes, which we hope would unleash even more creative possibilities for our creators around the world,” said a TikTok spokesperson.
As TikTok provides longer-form content to creators and users, its competitors have done the opposite. Instagram has released a short video segment called Reels, YouTube has launched Shorts, and Snapchat has produced Spotlight. These companies are trying to make the video content shorter.
According to industry insiders, longer-form content tends to be more profitable and effective at keeping users on the platform. At the same time, analysts contend TikTok still needs to create an appropriate display mode for longer videos, as they aren’t as suitable to the vertical content feed that its users are accustomed to whizzing through.
TikTok users spent approximately $2.3 billion last year on the platform, according to data published in January by Sensor Tower. This figure, which includes transactions made on the iOS version of TikTok’s mainland Chinese counterpart, Douyin, corresponds with 77% year-on-year growth – up from $1.3 billion in 2020. Consumer spending on TikTok reached $824.4 million in the fourth quarter of 2021, more than double the $382.4 million generated during the same period in 2020.