With its deal to have its U.S. operation acquired by a consortium of U.S. investors just days away, TikTok is making an aggressive move to court Hollywood, planning an expansive presence at the Sundance Film Festival in Park City, and with plans to release a pair of new advertising formats designed specifically for entertainment companies.
The social video platform Wednesday said that it was launching a pair of new ad products: Streaming Ads and New Title Launch, both geared toward Hollywood, using Sundance as a jumping off point.
Streaming Ads, which is powered by TikTok’s AI-powered Smart+ tech solution, is meant to drive subscribers to streaming platforms, showcasing multiple titles in a single ad experience via a pair of formats meant to highlight different shows and genres available on the advertiser’s platform.
And New Title Launch is designed for entertainment tentpole events like new season premieres, franchise drops, or big sports games, and “allows advertisers to reach high-intent users using specific signals, such as users’ favorite movie genre or pricing sensitivity, to turn fandom into sales.”
The new ad platforms underscore TikTok’s growing role as a tastemaker and marketing juggernaut, and an increasingly important place to generate interest in new programming on other platforms.
“Entertainment advertisers are increasingly turning to TikTok as a powerful audience-building engine,” said Tao Baecklund, global head of content & services ads at TikTok. “We’re listening to their evolving needs and are continuously developing new tools that allow them to reach high-intent viewers and drive key business results like subscriptions and ticket sales – all while delivering a more personalized, engaging experience for our users.”
TikTok is planning to have a substantial presence at Sundance, bringing a slew of its creators to Park City, and co-hosting an event with A24 and Charli xcx. Dawn Yang, TikTok’s global head of entertainment partnerships, will also be there, appearing on a pair of panels.
The timing of the Sundance launch comes as TikTok is set to officially close its deal for its U.S. business to be sold to a consortium of investors Thursday. Many in Hollywood and tech are watching closely to see if the new ownership group makes any changes to the leadership or strategy of the U.S. business.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.hollywoodreporter.com ’
