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TikTok advertisers will look to rivals if US Senate moves ahead on ban

Economic Times

Economic Times · 1y ago

TikTok advertisers will look to rivals if US Senate moves ahead on ban

Advertisers who currently use TikTok to target young consumers are making contingency plans in case the app is sold or banned in the U.S. While they await signs of Senate action, TikTok's competitors such as Meta's Reels and YouTube's Shorts are preparing to benefit from advertising budgets. The proposed legislation to sell TikTok or face a ban has gained significant momentum, putting advertisers on alert. However, some digital marketing firms advise clients to continue business as usual for now, as TikTok has previously survived attempts to restrict its availability. Redirecting budgets to Reels and Shorts is not a guaranteed solution, as TikTok remains a primary media consumption channel for many users.

Related News

Senate Republican leader backs legislation to force Chinese divestment of TikTok

Economic Times

Economic Times · 1y ago

Senate Republican leader backs legislation to force Chinese divestment of TikTok

US Senate Republican Leader Mitch McConnell is pushing for legislation that would require China's ByteDance to divest TikTok due to security concerns. The US House of Representatives has already voted in favor of the divestment, giving ByteDance six months to comply or face a ban. Senate Commerce Committee Chair Maria Cantwell is working on a game plan with Senate Democratic Leader Chuck Schumer and Senate Intelligence Committee Chair Mark Warner. TikTok argues that a ban would violate the First Amendment rights of its 170 million American users and insists it has never shared US data.

Why the last attempt to ban TikTok failed

Business Insider

Business Insider · 1y ago

Why the last attempt to ban TikTok failed

The US Congress has passed a bill that could force TikTok to divest its US business or shut down, bringing a potential ban closer to reality. This is not the first time TikTok has faced such threats. In 2020, then-President Donald Trump attempted to ban the app over security concerns and Chinese ownership. However, TikTok denied sharing data with China and sued the US government. A federal judge granted an injunction, and when President Joe Biden took office, he rescinded Trump's executive order. Now, the tables have turned, with Biden indicating he would sign the latest ban bill if it passes in the Senate. TikTok has vowed to fight the ban once again.

TikTok Ban in US: House passes bill with majority, Senate vote next & more

Livemint

Livemint · 1y ago

TikTok Ban in US: House passes bill with majority, Senate vote next & more

The United States House of Representatives has passed a bill to prohibit Chinese social media platform TikTok, with 352 votes in favour and 65 against. The bill now moves on to the US Senate and later to the White House for the President's signature. The move comes amid concerns over national security related to TikTok's Chinese parent company, ByteDance. The bill requires ByteDance to divest from TikTok within 165 days or cease operations in the US, and also demands the relinquishment of TikTok's algorithm if it is to continue US operations.

U.S. House passes revised bill to ban TikTok or force sale

TechCrunch · 1y ago

U.S. House passes revised bill to ban TikTok or force sale

The US House of Representatives has passed a bill that would require the sale of popular social media app TikTok or face a ban in the country. The bill provides ByteDance, TikTok's parent company, with a nine-month window to sell the app, with an additional 90-day extension possible. The bill received overwhelming support from both Republicans and Democrats. If passed by the Senate, President Joe Biden has indicated he will sign it. TikTok is expected to challenge the bill in court if it becomes law. Concerns over national security threats and data privacy have been cited as reasons for the proposed ban.

Hoping to stall a ban, TikTok says it generated $14.7B for US small businesses last year

TechCrunch · 1y ago

Hoping to stall a ban, TikTok says it generated $14.7B for US small businesses last year

TikTok has released an economic impact report in an attempt to fend off a potential ban in the US. The report claims that the platform generated $14.7bn for small to mid-sized businesses last year, resulting in $24.2bn in total economic activity. It also states that over seven million US businesses rely on TikTok, with 224,000 jobs supported by small business activity on the platform. The release of the report coincides with a bill that could ban TikTok gaining bipartisan support in the House of Representatives. The bill will now go to the Senate for consideration.

TikTok tells staff that strategy stays the same after House vote

Livemint

Livemint · 1y ago

TikTok tells staff that strategy stays the same after House vote

TikTok has informed its employees that it will not be changing its approach to protecting user data, despite a recent bill passed by US lawmakers to ban the app unless it is sold by its Chinese owner. In a memo reviewed by Bloomberg, the company expressed its belief that transparent, US-based protection of user data is the best way to address concerns about national security. TikTok plans to lobby the Senate against passing the legislation and will pursue legal challenges before considering any divestiture. The bill faces an uncertain future in the Senate.

Instagram debuts new video-editing app Edits, as TikTok deals with a ban

Economic Times

Economic Times · 5m ago

Instagram debuts new video-editing app Edits, as TikTok deals with a ban

Instagram has launched a new video-editing app, Edits, amidst uncertainty surrounding TikTok due to a potential U.S. ban. The app is similar to CapCut, owned by TikTok's parent company ByteDance, allowing creators to edit videos across platforms. As TikTok navigates legal challenges, Instagram aims to attract users and advertisers by enhancing its creative tools. Meta, Instagram’s parent company, is positioning itself to capture migrating TikTok users if the ban proceeds.

Despite law, US TikTok ban likely to remain on hold

Economic Times

Economic Times · 1m ago

Despite law, US TikTok ban likely to remain on hold

The US TikTok ban remains on hold as President Trump considers extending the deadline for the app to secure a non-Chinese buyer. Initially set to be enforced due to national security concerns, Trump has delayed the ban thrice, expressing willingness to extend it further. Although ByteDance has been in talks with US authorities, a sale is yet to be finalized. Meanwhile, TikTok continues its operations and has launched new AI tools for advertisers.

TikTok is circling the wagons ahead of a potential ban

Business Insider

Business Insider · 1y ago

TikTok is circling the wagons ahead of a potential ban

TikTok is facing a potential ban in the US as a bill seeks to force its Chinese-owned parent company, ByteDance, to sell it to a non-Chinese owner. The bill is expected to pass in the House and will then move to the Senate and the president for approval. In response, TikTok is mobilizing its users and preparing for potential litigation, arguing that a ban would infringe on freedom of speech. However, a forced sale may also prove challenging as the Chinese government opposes it.

The TikTok ban chaos — explained in 60 seconds

Business Insider

Business Insider · 1y ago

The TikTok ban chaos — explained in 60 seconds

A new bill that could potentially ban TikTok in the US is currently being discussed in Congress. While some people, including former President Donald Trump, have voiced support for banning TikTok in the past, there is now contradictory opinions on the matter. The main concern behind the ban is the app's ownership by a Chinese company and the potential for the Chinese government to access personal data or influence American politics through the platform. The current bill would require ByteDance, TikTok's parent company, to sell its US operations to non-Chinese owners to avoid the ban. However, it is uncertain whether such a sale would be feasible or if ByteDance would even agree to it. The proposed ban would not remove TikTok from existing user's phones but would prevent app stores from distributing it and hosting it on US websites, eventually rendering it unusable. The bill has already been introduced in Congress and is expected to pass in the House this week, but it still requires approval from the Senate and President Joe Biden to become law. The politics surrounding the TikTok ban bill are complex and bipartisan. Concerns about TikTok's national security implications have been expressed by Americans of different ages and political leanings, making it difficult to categorize the support or opposition to the bill. Both President Biden and former President Trump have shown contradictory stances on the issue. If the bill becomes law, ByteDance would have 180 days to sell its US TikTok operations to comply or face penalties. However, the timeline and the likelihood of a ban before the upcoming US elections remains uncertain as legal challenges are expected.

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