Musical.ly, the lip-syncing app that Gen Z’s adore, has been quietly pitching three new ad products to media agencies, in an effort to step up its ad sales.
After being acquired by Chinese media company Bytedance last November, Musical.ly is getting ready to step up its advertising offering to attract more revenue. Reports show that representatives from the lip-syncing app have been meeting with advertising and media agencies to pitch three new ad products.
So far Musical.ly has only managed to drive revenue through influencer partnerships and activations. But now the company is looking to generate revenue with a set of new products oriented towards custom content creation and co-creation of assets.
The first ad product is called #HashtagChallenge and aims to help brands “challenge their community to create videos inspired by a brand’s initial video.” Several agency executives described this ad format as the most engaging experience on the platform.
Another of the new ad product is reported to be a brand takeover where advertisers will be able to create visuals – stills and GIFs – to redirect users to its Musical.ly page or #HashtagChallenge it created.
Finally, Musical.ly should also over 5-15 second vertical sponsored videos that advertisers could use to direct users to their page or external websites.
According to several agencies, these products are still in beta, and no formal offering is yet available nor is Musical.ly considering a self-serve platform for advertisers at this stage.