Instagram CEO Adam Mosseri has testified in a DC courtroom regarding the Meta-owen platform’s intensifying battle with TikTok, describing it as a matter of survival.
This testimony came during the Federal Trade Commission's (FTC) antitrust trial against Instagram, where the government accused the platform of monopolising the market for native social networking services.
Notably, when Mosseri was appointed as the CEO of Instagram in 2018, the app was facing a sharp decline in user engagement, partly due to TikTok's rise.
In addition, Instagram projected that 23% of the decline in time spent on the app in the US was attributed to TikTok.
Instagram's CEO stresses the need to quickly adapt evolving social media tactics
Mosseri further underscored the need for Instagram to adapt quickly to the evolving social media realm, stating, "You're either growing, or you're slowly dying”.
Despite the fierce competition, Mosseri emphasised that connecting with your beloved ones remains the main part of Instagram's service.
It is pertinent to mention that, since 2020, Instagram has skyrocketed to success due to enhanced, artificial intelligence (AI) recommendations for Reels.
However, ByteDance-owned short-video platform still represents the intense rivalry that Instagram faces.
That said, while fueling up the intense rivalry, Meta has invested billions in developing state-of-the-art features and offering unique AI-powered capabilities for a streamlined user experience.
In addition, the result of this trial could have significant implications for the social media realm and how platforms operate.
