Oct 3, 2023 – TikTok has finally decided to jump on the bandwagon along with a few other platforms that are now offering a premium version of their apps. The paid version of TikTok is available for use at a price of about $5. For now, it promises displaying no ads while you scroll through videos.
Other marketing tactics such as influencer marketing or product placements will be included in the premium TikTok since they are directly a part of the content uploaded on the platform.
With over a billion active users from all around the globe, TikTok has gained immense popularity among people of all age groups. It is the first social media network to introduce short-form content which has kept everyone hooked ever since.
It is confirmed by Android Authority that TikTok is currently testing their ad-free subscription for users who wish to eliminate ads from their in-app experience. It hasn’t been launched as of yet, however, some users have come across a pop-up in the app that displays two options. The premium version for $4.99 and the standard free version that displays ads based on user interactivity and interests.
The question here arises that will this revenue be able to replace the one generated through advertising? Certainly not. TikTok is willing to take the plunge nonetheless. Although this won’t really have an impact on their ad revenue unless a significant number of users opt for it.
Most social media sites have already begun to follow a dual income approach rather than solely relying on advertisements. In the long run, it seems nearly impossible that digital media will be able to rule out ads entirely since they are their greatest source of revenue.
There is a lot of on-going discussion about this as well. For example, Elon Musk says that paid social media is the only one that will matter in the future for the influx of AI bots and other intrusive elements will disrupt the consumer experience.
He is right in a sense but running a whole platform without ads doesn’t seem like a practical and sustainable approach. Either you charge the users a hefty amount or you run ads. Obviously, not many people would be willing to pay that much to consume content on a social networking site. You will eventually have to integrate ads in order to generate revenue.
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As for TikTok, they haven’t yet officially acknowledged launching their premium version. It is a plan in the experimentation phase right now. They could offer it anytime soon. Let’s wait for when users will be able to experience it exclusively.