Harvard Case - TikTok and Kuaishou: A Tale of Two Short-Video Sharing Apps from China to the Globe
"TikTok and Kuaishou: A Tale of Two Short-Video Sharing Apps from China to the Globe" Harvard business case study is written by Guoli Chen, Zhigang Liu, Jianggan Li, Xinhe Zhuang. It deals with the challenges in the field of Strategy. The case study is 34 page(s) long and it was first published on : Jul 8, 2021
At Fern Fort University, we recommend that TikTok and Kuaishou continue their aggressive expansion into global markets, leveraging their core competencies in technology and analytics and digital transformation to maintain their competitive advantage. This should be achieved through a combination of organic growth, strategic alliances, and mergers and acquisitions while prioritizing corporate social responsibility and environmental sustainability in their global operations.
2. Background
This case study explores the phenomenal rise of TikTok and Kuaishou, two Chinese short-video sharing apps that have captured the global imagination. Both companies have achieved extraordinary success through disruptive innovation and business model innovation, leveraging the power of the internet and social media to connect users and create engaging content.
The main protagonists of the case study are:
- TikTok (ByteDance): Founded in 2016, TikTok quickly became a global phenomenon, known for its addictive short-form video content and powerful recommendation algorithms.
- Kuaishou: Founded in 2011, Kuaishou initially focused on the Chinese market, gaining popularity for its live streaming and short-video features. It later expanded internationally, competing directly with TikTok.
3. Analysis of the Case Study
To understand the strategic landscape of TikTok and Kuaishou, we can utilize several frameworks:
a. Porter's Five Forces:
- Threat of new entrants: The short-video sharing space is becoming increasingly crowded, with new entrants constantly emerging. However, the high barriers to entry, including technology and analytics expertise and brand building, limit the threat of new entrants.
- Bargaining power of buyers: Users have considerable power, as they can easily switch between platforms. Both TikTok and Kuaishou need to continuously innovate and provide value to retain users.
- Bargaining power of suppliers: The companies rely on a wide range of suppliers, including content creators, advertisers, and technology providers. Their bargaining power is moderate, as the platforms offer a valuable distribution channel.
- Threat of substitute products: Other social media platforms like Instagram, YouTube, and Facebook offer similar features, posing a potential threat.
- Competitive rivalry: The rivalry between TikTok and Kuaishou is intense, with both companies aggressively competing for market share and user engagement.
b. SWOT Analysis:
Strengths:
- Strong user base: Both companies boast massive user bases, particularly in emerging markets.
- Advanced technology: Their technology and analytics capabilities enable personalized content recommendations and user engagement.
- Strong brand recognition: TikTok and Kuaishou have established strong brands, particularly among younger demographics.
Weaknesses:
- Data privacy concerns: Both companies have faced scrutiny over data privacy and security.
- Content moderation challenges: Managing content moderation effectively is a constant challenge, especially with diverse cultural contexts.
- Dependence on algorithms: Their success relies heavily on their recommendation algorithms, which can be susceptible to manipulation or bias.
Opportunities:
- Expanding into new markets: Both companies have significant potential to expand into new markets, particularly in emerging economies.
- Developing new revenue streams: Exploring new revenue streams beyond advertising, such as e-commerce and subscription services, can create new growth opportunities.
- Leveraging AI and machine learning: Further advancements in AI and machine learning can enhance content personalization, user experience, and monetization.
Threats:
- Increased competition: The short-video sharing space is becoming increasingly competitive, with established players like Facebook and Instagram intensifying their efforts.
- Government regulations: Regulatory scrutiny and potential bans in certain countries pose a significant threat.
- Content moderation challenges: Maintaining a safe and positive user experience while balancing freedom of expression is a constant challenge.
c. Value Chain Analysis:
Both companies have a value chain that includes:
- Inbound logistics: Acquiring content from creators, managing copyright, and ensuring content quality.
- Operations: Developing and maintaining the platform, managing user data, and ensuring smooth operations.
- Outbound logistics: Distributing content to users, managing advertising, and providing customer support.
- Marketing and sales: Attracting new users, promoting content, and building brand awareness.
- Service: Providing user support, managing community guidelines, and addressing content moderation issues.
4. Recommendations
To maintain their competitive advantage and achieve sustained growth, TikTok and Kuaishou should focus on the following recommendations:
a. Global Expansion:
- Market segmentation: Both companies should carefully segment global markets, identifying specific cultural nuances, user preferences, and regulatory landscapes.
- Localized content: Creating localized content tailored to specific markets is crucial for user engagement and cultural relevance.
- Strategic alliances: Partnering with local content creators, influencers, and media companies can accelerate market penetration and build brand loyalty.
- Mergers and acquisitions: Acquiring existing platforms or companies in target markets can provide access to established user bases and market expertise.
b. Innovation and Differentiation:
- Product development: Continuously developing new features and functionalities to enhance user experience and differentiate from competitors.
- AI and machine learning: Investing in AI and machine learning to personalize content recommendations, improve user engagement, and optimize monetization strategies.
- Emerging technologies: Exploring emerging technologies like augmented reality (AR) and virtual reality (VR) to create immersive and engaging content experiences.
c. Corporate Social Responsibility and Sustainability:
- Data privacy and security: Implementing robust data privacy and security measures to address user concerns and comply with global regulations.
- Content moderation: Developing sophisticated content moderation systems to ensure a safe and positive user experience while promoting freedom of expression.
- Environmental sustainability: Adopting sustainable practices in their operations, including energy efficiency, waste reduction, and responsible sourcing.
d. Strategic Planning and Management:
- Strategic planning: Developing comprehensive strategic plans that outline global expansion strategies, innovation roadmaps, and corporate social responsibility initiatives.
- Leadership development: Investing in leadership development programs to cultivate leaders with global vision, strategic thinking, and cultural sensitivity.
- Organizational structure and design: Adapting organizational structures to support global operations, foster collaboration, and promote cultural diversity.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies: Leveraging their existing strengths in technology and analytics, digital transformation, and innovation to fuel global expansion.
- External customers and internal clients: Understanding the needs and preferences of diverse user groups and fostering a positive and inclusive environment for employees.
- Competitors: Staying ahead of the competition by continuously innovating, adapting to market trends, and developing unique value propositions.
- Attractiveness: Expanding into high-growth markets with significant user potential while prioritizing corporate social responsibility and environmental sustainability to enhance brand reputation and long-term sustainability.
6. Conclusion
TikTok and Kuaishou have the potential to become global leaders in the short-video sharing space. By embracing a strategic approach that prioritizes innovation, global expansion, corporate social responsibility, and sustainable growth, they can navigate the competitive landscape and achieve sustained success.
7. Discussion
Alternative options include:
- Focusing solely on organic growth: This approach would require significant resources and time to build a global presence.
- Acquiring a large established platform: This could be a costly and risky strategy, with potential integration challenges.
- Partnering with a major technology company: This could provide access to resources and expertise but could also lead to loss of control and potential conflicts of interest.
The key risks associated with the recommended strategy include:
- Regulatory challenges: Navigating diverse regulatory landscapes and potential bans in certain countries.
- Content moderation issues: Maintaining a safe and positive user experience while balancing freedom of expression.
- Competition from established players: Facing intense competition from established social media platforms with significant resources and user bases.
8. Next Steps
To implement the recommendations, TikTok and Kuaishou should:
- Develop a comprehensive global expansion plan: This should include market segmentation, localized content strategies, and partnerships with local players.
- Invest in AI and machine learning: Enhance their recommendation algorithms, personalize user experiences, and explore new monetization opportunities.
- Prioritize corporate social responsibility and sustainability: Implement robust data privacy and security measures, develop ethical content moderation policies, and adopt sustainable business practices.
- Foster a culture of innovation and collaboration: Encourage experimentation, empower employees, and build a global team with diverse perspectives.
By taking these steps, TikTok and Kuaishou can solidify their position as global leaders in the short-video sharing space, while contributing to a positive and sustainable future for their users and stakeholders.
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Case Description
Short videos are the new trend in entertainment and social networking. TikTok/Douyin is the undisputed leader of short video-sharing apps. Less than four years after it launched in China, TikTok shot to global prominence thanks to an addictive user experience. In 2020-21, despite a challenging geopolitical context, it maintained strong growth momentum to become the world's most-downloaded, best-rated, highest-earning app. Kuaishou, TikTok's strongest domestic competitor, dominated the Chinese market until 2018. Like TikTok, it began to expand overseas in mid-2017, but stumbled. With backing from Tencent (one of China's pioneering internet giants), Kuaishou gained fresh momentum in China and global markets and took steps to going public in February 2021. As the two companies go head-to-head in China and globally, their products and strategies are converging. The case compares their respective strategic positions, operations and development. It reveals the success story behind TikTok's exponential growth and expansion, the emergence of the short-video industry, the parent company ByteDance, and its current and future challenges.
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