Join our Waitlist for Expert Advice!

Snap CEO Evan Spiegel Says TikTok Could Be Bigger Than Instagram He says it's because TikTok focuses on talent, not likes.

This story originally appeared on Business Insider

Steve Jennings/Getty Images for TechCrunch via BI
Snap CEO Evan Spiegel.

CEO and founder of Snapchat Evan Spiegel thinks short-form video app TikTok has the potential to dethrone Instagram in terms of popularity.

Speaking during a fireside chat at the Digital Life Design (DLD) Conference in Munich on Sunday, Spiegel responded to a question from an audience member about his opinion on TikTok.

"I should say I love TikTok, I'm a big fan," replied Spiegel. He elaborated that traditional social media revolves around status. "Social media in its original construct is really about status, representing who you are, showing people that you're cool, getting likes and comments, those sorts of things," he said.

Related: 9 Inspiring Quotes from the 27-Year-Old Billionaire and Snap Co-Founder Evan Spiegel

By contrast, Spiegel said users show off talent rather than social status on TikTok. "People who have spent a couple hours learning a new dance or think about a funny new creative way to tell a story, and they're really making media to entertain other people," he said.

Spiegel was specifically asked whether TikTok could grow faster and bigger than Instagram. "I think it's certainly possible because this talent-based content is often more interesting than status-based content," Spiegel responded.

Facebook-owned Instagram has been making a public effort to make its platform less conducive to social posturing, with CEO Adam Mosseri deciding to remove public-facing like-counts.

Related: In Leaked Memo to Snap Employees, CEO Evan Spiegel Argues Snap's Competitive Advantage Is That It's Not a Social Media Company

TikTok's download count is closing the gap on Instagram, overtaking Instagram on the list of most-downloaded social media apps for 2019. Meanwhile Instagram's growth slowed to single-digits for the first time in 2019.

Instagram and TikTok still appear to be neck and neck in terms of monthly active users, with both boasting around 1 billion. Snap doesn't release monthly active users for Snapchat, but boasted 210 million daily active users towards the end of 2019.

Facebook has also made a conscious effort to mimic some of TikTok's success. In November last year it started testing an in-app feature for Instagram called "Reels" that bore an extremely close resemblance to TikTok, and in 2018 launched a standalone app called "Lasso."

Related: 5 Facts About Evan Spiegel, Snapchat's Often Controversial Co-Founder

Spiegel is no stranger to having his own app's features aped by Facebook. Snapchat's "Stories" feature was widely adopted by Facebook into its main app, Instagram, and WhatsApp, where the feature garnered twice as many users as on Snapchat.

Spiegel addressed the issue of Facebook copying Snapchat at DLD, but brushed it off as an inevitability. "We don't see copying as a limitation on the growth of our business," he said.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Leadership

Fixing Every Problem Isn't Your Job — Here's How to Empower Your Team to Handle Issues Without Your Constant Involvement

Here's how to enable your team to solve problems on their own so you can focus on strategic planning and growth.

Leadership

How the Tragic Death of His Childhood Best Friend Inspired NFL Running Back Latavius Murray to Do Something Big for His Community

Latavius Murray explains his heartfelt mission to build a community center for his hometown and for others like it.

Business News

'Horrible Idea': X Is Making It Extra Difficult to Block Someone and Users Are Pushing Back

Meanwhile, X competitors Bluesky and Threads are gaining millions of new users.

Business Solutions

Why Business Owners Won't Want to Miss This Rare Microsoft Deal

Transform complex data to eye-catching visuals with Microsoft Visio, now $99.99

Growing a Business

From Idea to Icon — The 2 Keys You Need to Unlock Sustained Success and Influence as an Entrepreneur

Ready to make a lasting impact and build a thriving business? Discover the must-have priorities and traits to set you on the path to success.

Business News

Taylor Swift Faced a Major Malfunction on Stage. She Improvised on the Spot—and Gave a Great Lesson on Keeping Cool Under Pressure.

Here's how Taylor Swift recovered from an onstage mishap during her New Orleans stop of her Eras Tour Show.