Earlier this month, Triller, a video editing app, announced a new partnership with Billboard. The deal will allow Triller users to submit videos to Billboard’s TheWrap. The company has 25 million users, according to its CEO. But, the news comes at a time when Triller is battling with other video apps, such as TikTok.
Triller is competing with TikTok
Among the new social video apps that are rapidly approaching TikTok users is Triller. It has attracted a substantial amount of new investors, including major music industry figures.
The company has closed a $28 million round led by Proxima Media. The investors include notable music industry executives and managers. Several high profile artists have joined Triller, including Chance the Rapper, Eminem, Lil Wayne, and Snoop Dogg.
Triller has also tapped into the music industry through partnerships with Universal Music Group, Warner Music Group, and Sony Music Entertainment. The platform focuses on hip-hop, electronic dance music (EDM), and EDM. It’s home to a number of established and rising rap artists, as well as music industry executives.
Triller 10b Billboardburch Thewrap is a video editing app that uses artificial intelligence to select the best clips for music videos. The app also allows users to film multiple takes of themselves. It features a variety of filters, effects, and overlays, and users can collaborate on a video. It offers the ability to use music from Apple Music and Spotify libraries.
The app’s popularity has risen rapidly over the last few months. It’s currently the leader in user growth. Its monthly active user count is estimated at 65 million. But analytics companies have declined to confirm the numbers.
TikTok is owned by Chinese company ByteDance. It offers a range of advertising options, from ad-supported to in-feed video ads. It also has a strong focus on personalized search, which it continually tweaks based on user history. It displays trending hashtags and top videos. It offers easy ad creation. It’s also been said that TikTok is gearing up to disrupt the music industry.
However, TikTok has faced accusations of inflating its user count. It’s also been accused of withholding payments to music publishers. The Washington Post reported that most of the company’s creators weren’t paid. This has left many of them in financial trouble.
Triller is trying to position itself as a fallback option for social media users. It has a wide range of users and is a fun way to promote products. It’s also said that it gives brands a better share of voice on social media.
Triller has only 25 million users
Originally created as a video editing tool, Triller has since added a social element and has become one of the most popular short video apps in the world. As with TikTok, users can create and share videos, which can be customized with AI-powered effects, text, and music from Apple Music and Spotify. In addition, Triller allows users to convert Gems into real money.
According to a report from Billboard, the statistics on Triller’s app have been inflated. While the numbers on the company’s website boasted 50 million monthly active users (MAUs) by July 2020, the user base was actually closer to 25 million.
In December, the company reported that it had 26.5 million monthly active users. That’s an increase from the 25 million users claimed earlier in the year.
However, the app is now facing the prospect of being banned in the U.S. and India. It’s also been accused of withholding payments and royalties. While the company doesn’t deny these allegations, it’s negotiating with Universal Music Group (UMG) to secure a new deal.
In October, Triller announced a new round of funding. It also revealed that it had acquired a music tech startup called MashTraxx.
In a press release, Triller claimed that it had more than 250 million downloads and a 50-million MAU count. It also promised a massive “Black Creator Conference” in Atlanta in 2022.
While the MAU count on Triller is impressive, the company’s numbers aren’t as good as its competitors. It’s also not as prolific as TikTok. The company says it’s focused on growing its “off-network” content.
In addition, the company said that it has a “special purpose acquisition company” that’s set to go public in the coming weeks. While the company has a star-studded investor base, it’s unclear if the company’s management has the integrity to pull off this deal. Investing in private companies can be challenging. Often, the management team is unreliable, opacity and privacy concerns are issues to be considered.
With the recent growth and success of TikTok, there is plenty of room for two players in the short video space. But the lack of integrity on the part of Triller’s management may mar its chances of becoming the next TikTok.
Triller’s CEO says company never inflated user numbers
Earlier this month, Triller CEO Mike Lu said the company had never inflated user numbers. He also corrected a statement on how the standard definition of “active” users works.
In December, Triller claimed to have more than 26.5 million monthly active users. But according to a report in Billboard, the company may have been inflating its numbers. This claim has been a source of controversy for the company. The ad platform has been accused of inflating MAU and DAU counts.
In addition, the app had been criticized for loose copyright obligations. The National Music Publishers’ Association has said the app is not following proper music licensing standards. The company has also been accused of withholding payments from artists.
In March, Triller hired Bonin Bough as chief growth officer. He was previously the senior vp of new digital business at Universal Music Group. The two companies have a history of partnering. The Triller CEO says the company is focusing on the monetization of its “off network” content. But in an interview with Business Insider, he made a number of roundabout comments and incoherent analogies.
The Triller app has a history of charging brands top dollar for ad space on its platform. It also distributes pay-per-view boxing events. It’s working with Samsung to embed the app in mobile phones.
In January, Triller hired former Warner Chappell CFO Paul Kahn. It has also signed up internet personalities such as Charli D’Amelio. The company’s CrossHype ad technology has been a big hit with brands. It’s similar to the premium ad buys you can make on Instagram. The company has also announced plans to go public in September. However, it will have to disclose more details about its business before it can go public.
In fact, the company has been sued several times by music labels. Among them are Universal, Sony, and Sony/ATV Music Publishing. The company has also been the subject of a lawsuit by Wixen Music Publishing for copyright infringement. In June, the company’s user count was reportedly closer to 25 million than it is now.
Triller’s new partnership with Billboard
Founded by David Leiberman, Sammy Rubin and David Lee, Triller is a social media platform that pays songwriters and publishers for use of their songs on the app. Originally a short-form video app, it has since expanded to include sports promotion and distributing pay-per-view boxing events.
The company has a large user base, and has signed licensing agreements with major labels such as Universal Music Group (UMG) and Merlin. But the app has been hit with a series of lawsuits, mainly over its lack of payments for its users. The company’s founders have been accused of overcharging consumers, and some influencers have said that they haven’t received payments from the company.
The app has a number of partnerships, including Apple Music and Spotify. It has also launched its own virtual reality (VR) program, Metaverz, which allows users to watch live musical performances, interact with artists, and watch sporting events. The company says it will hold 2,000 events over the next year.
The lawsuit against Triller comes just weeks after another one was filed against the company by Timbaland and Swizz Beatz. Both artists claim that they haven’t been paid for their Verzuz tracks. It was reported that the two were owed $28 million. However, a month later, the two companies dismissed their lawsuits.
In September, the company announced that it was negotiating a new licensing deal with UMG, but that wasn’t the end of the lawsuit. It was then revealed that Triller had stopped paying licensing fees to the music industry.
The company has hired a consulting firm called Phiture, which specializes in mobile app development and store optimization. Its website says it provides “mobile app developers with consulting, training, and support to improve the user experience on their apps.”
In September, the company launched a $4K a month program to compensate black creators. Its first press release mentioned Colin Tilley, who has worked with Justin Beiber and J. Balvin. According to the report, the program has recruited black influencers with promises of $4,000 per month.
The company has also been sued by a smartphone app consulting firm for unpaid fees. A company representative did not respond to questions about the number of active users on the Triller platform.
