Connect with execs from The New York Times, TIME, Dotdash Meredith and many more
Kik’s making its own currency.
On Thursday, the messenger platform that claims to have 15 million monthly active users (57 percent of whom are aged 13 to 24), launched Kin, a currency of its own that will let users earn and buy things from inside the app.
“It is becoming increasingly difficult for companies in our space to continue to differentiate through innovation,” said Erin Clift, chief marketing officer of the Waterloo, Canada-based company. Although Kik’s user base pales in comparison is small compared to its competitors — WeChat had 889 million monthly active users last year, while as of March of this year, Facebook had 1.9 billion monthly active users — Kik said it hopes it will break the dominance of established players by creating its own payments ecosystem.
More in Marketing
Generative AI sparks brand safety concerns marketers know all too well
Despite concerns around brand misuse and IP, most marketers are sticking to traditional strategies.
‘Production is a big topic right now’: With AI moving beyond media, Publicis turns toward creative
The holdco is positioning AI as core infrastructure for ad production not just media buys.
Instagram offers a new guide to advertisers to convince them to try out its creator marketplace
The 26-page document aims to make the whole process quick and painless.