The news: TikTok hosted its third annual product summit, TikTok World, on Tuesday. This year’s event was closed to the press and featured a more subdued set of product launches than in previous years.
TikTok’s automation offering: Developing ad creative is still one of the biggest pain points for TikTok advertisers. Automation is TikTok’s answer to that problem.
TikTok also touted ByteDance-owned app Capcut as a go-to service for ad creation on the platform. Capcut was the second-most downloaded app on iOS and Android in the US during Q1 2023, up from the third spot in Q4 2022, per data.ai.
The big picture: TikTok already has the most developed portfolio of short-video ad products and creative tools. But as competitors enhance their short-video offerings for advertisers, having educational tools and infrastructure to simplify advertising on the platform will help TikTok keep its competitive edge.
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