Tiktok, Information Cascades, and the Music Industry
https://www.businessinsider.com/how-tiktok-is-changing-the-music-industry-marketing-discovery-2021-7
Tiktok is super popular app, with at least a billion users. One of it’s major features is its For You page, which allows users to consume content delivered to them based on the For You algorithm. Every time a user interacts with content, the algorithm processes new information: the amount of time the user spends watching the video, how many times they watch it, whether they like, comment, or share it, and so on and so forth. The videos that your friends like and share are also figured into this algorithm. With every hour spent on the platform, the content becomes more curated.
In class, we have spoken about information cascades. This is a process when individuals make decisions based on the decisions of others in a group. Information cascades are a result of people not fully considering their choices, which can lead to suboptimal outcomes. Tiktok is a prime example of this. People are given content on their For You page based on what is popular and what other people liked or found interesting. Seeing that other people found it interesting, a user might leave a like, and this will continue happening, eventually leading to viral content, even if it is not high-quality content. Information cascades like this can lead to dangerous things, such as the numerous challenges floating around the internet that cause harm to those who try them, but also can have interesting effects on huge industries.
Throughout the years, Tiktok and the music industry have become very intertwined. This article linked above speaks on how labels are leaned into the platform after seeing the instant success that many artists have received after one of their songs blows up. Some artists write specifically for Tiktok, writing songs with short bites that they know will do well on the app. As the article says, songs that trend on Tiktok end up charting on the Billboard Top 100 or entering the Spotify Viral 50 playlist. Marketing on Tiktok is huge, because if a sound becomes widely shared due to the Tiktok algorithm setting up an information cascade, that success could very well translate off of the app. Thus, information cascades on social networks like Tiktok are changing the landscape of the music industry.