Instagram CEO testifies about competing with TikTok: ‘You’re either growing, or you’re slowly dying’
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Summary
According to Adam Mosseri, the head of Instagram and a former educator, TikTok presents the strongest competition to Meta-owned Instagram.
Testifying for the Federal Trade Commission (FTC) against Meta, Mosseri underscored the urgency of recovering lost audience and engagement as “you’re either growing, or you’re slowly dying.”
In the antitrust lawsuit, the US government alleges that Meta unlawfully monopolised the market for social networking, including rivals like Snapchat but not TikTok or YouTube.
Mosseri testified that even as Instagram offers more entertainment, connecting with friends remains a staple of the service.
Friend content has declined in total time spent, but remains central to the app, he added.
Kevin Systrom, Instagram’s co-founder and former CEO, had previously said that Zuckerberg had reallocated resources from Instagram to Facebook.
However, Mosseri, who became CEO in 2018, provided a different perspective, stating that the acquisition of Instagram by Facebook had resulted in mutual benefits.
With the acquisition, Instagram had access to Facebook’s resources and experience, while Facebook gained the innovative talent of the Instagram founders, essential for competing in the market, Mosseri argued.