The big lip-syncing application known as Musical.ly was acquired by Chinese media company, Bytedance, in November 2017 with the goal of boosting ad dollars by using small influencer-based campaigns. They are expanding the platform by doing more than just lip sync videos and plan to use content partnerships by doing custom content creation and co-creation of assets. New Advertising Plan The new ad products include what will be known as the #HashtagChallenge, where brands will challenge their followers to make response videos to their initial video. Advertisers see this as the most interactive advertising product on the table, as it allows users to watch an entire ad and creatively post about the brand. This advertising method will not only reach the brand’s followers but the users’ following as well, and possibly have an exponential growth with impressions. They are also creating stills and GIFs to redirect users to a brands…