A host of short-video apps sprang up in India in the latter half of 2020 after TikTok was banned there. A number became hugely popular, but three years on there’s something of a shakeout brewing, and not all of them will survive.
One that certainly won’t is Tiki, which has announced that it will shut down on 27 June. In its announcement, the company – which is based in India and Singapore – blamed “the recent challenges faced by the tech industry” for its closure.
Tiki’s problem wasn’t so much demand – it has 35 million monthly active users in India according to TechCrunch – as the challenges of turning that audience into a sustainable business.
There are wider challenges here though. In September 2022, consultancy firm Redseer predicted that India’s short-video market will be worth $19bn by 2030.
However, shortly afterwards reports suggested that it might be YouTube and Instagram who are best placed to reap those rewards, rather than the homegrown Indian apps.
Tools: platforms to help you reach new audiences
Tools :: Wyng
Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…