New court filing shows that Meta execs agreed that the company was losing to TikTok

Core Insights - Meta executives, including CEO Mark Zuckerberg and Instagram head Adam Mosseri, acknowledged that TikTok is outperforming Meta in the social media landscape, indicating a significant competitive threat [1][2][6] - Internal discussions revealed that Meta views Facebook as a "challenger" in the market, having lost both "mindshare" and "momentum" to TikTok [2][8] - TikTok's unique ability to create a "shared context" among users is seen as a key factor in its success, allowing friends to engage with similar content [8][9] Group 1: Competitive Landscape - Zuckerberg noted that while Facebook remains the largest app by user engagement, it is no longer the leader in time spent, with TikTok surpassing YouTube in average watch time in the U.S. in 2021 [4][8] - Mosseri highlighted that TikTok is growing the social mobile market and encroaching on traditional media like TV and long-form video platforms [4][10] - The rise of TikTok has prompted Netflix to introduce a similar vertical video feed in its mobile app, indicating a shift in content consumption trends [5] Group 2: Internal Perspectives - Meta executives expressed concerns about the fragmentation of the social media space, with numerous platforms competing for user attention, making it challenging for Facebook to maintain its growth [10][12] - John Hegeman, then VP of Ads, acknowledged TikTok's leadership in short-form video content and creation tools, while expressing optimism that Meta could close the gap through its Reels feature [11][12] - The document suggests that Meta perceives itself as the underdog in the social media market, with TikTok's success posing a risk to its business and growth [12]