Bytedance launched two video ad-creation tools this week, with one targeting the domestic market and the other specifically for ads on short video platform TikTok, Chinese media outlet TechPlanet reported.
Why it matters: Bytedance has been building an advertising ecosystem that streamlines ad creation, deployment, and management on its apps as the company strives to meet its minimum revenue goal of RMB 100 billion for 2019.
- Prior to the two video-ad creation tools, Bytedance had released two apps that help brands track ad and marketing campaign performance.
Details: Named “TikTok AdStudio” and “Juliang Chuangyi” (or “massive amounts of creativity,” our translation), the two apps are designed to help users optimize video ads on the company’s various short video platforms in China and overseas. They were launched separately this week.
- TikTok AdStudio is a new app for overseas users on TikTok.
- Juliang Chuangyi has been on Apple’s China App Store for more than a year, and its launch on Thursday was for third-party Android marketplaces. It also provides users with guidance on creating effective video ads, but for Bytedance’s domestic short video apps, namely Douyin and Xigua Video.
- The two apps have similar functions—providing users with video ad-related content that they can search and reference to help improve the quality of video ads.
- Juliang Chuangyi hosts several types of content for advertisers: regular video ads, internally-produced courses on how to create eye-catching videos, examples and analysis of successful ads, target audience reports, as well as trending videos on Douyin.
- One report from the platform, for instance, analyzes what short video app users born after 2000 are interested in and would be willing to spend money on.
- Juliang Chuangyi also features artificial intelligence-assisted video editing, saying it helps content producers batch-produce certain types of videos and automatically complete tasks such as adding subtitles.
- Bytedance has also been pushing Juliang Chuangyi in several advertiser-focused WeChat groups, TechPlanet said.
Context: In addition to launching new products at short intervals to enrich its product portfolio, Bytedance has also been doubling down on its advertising business as the company’s management sets increasingly ambitious revenue goals.
- The expansion of Bytedance’s advertising business pressured Tencent’s advertising revenue growth in the second quarter.
- Bytedance is aiming to bring in a minimum of RMB 100 billion of revenue in 2019, but is setting its sights on a range between RMB 120 billion and RMB 140 billion, according to a Chinese media report citing multiple unnamed sources.