It seems that some TikTok advertisers are looking into other social media platforms and starting to explore them before TikTok CEO Shou Zi Chew’s testimony to Congress this week.
What’s happening with TikTok?
Folks, folks, we can’t avoid it! The most widely used social network in recent times is in trouble, and TikTok advertisers are seeking alternatives amid a possible ban in the US.
It turns out that the Chinese government may be spying on Americans through the app and collecting data. Ouch! As a result, politicians are considering banning the app in the US.
Photo: Economic Time
President Biden is backing these efforts and has given an ultimatum to ByteDance: either destroy the app or face a ban. However, this could irk the 100 million US TikTok users, 80% of whom are voters! Oops!
But wait, there’s more; it seems that brands are also feeling regulatory pressure and are looking for alternatives to TikTok.
Meanwhile, TikTok CEO Shou Zi Chew is trying to defend his territory, but analysts are not convinced he can do much.
He is testifying before Congress this week, arguing that a TikTok ban could negatively impact American creators who rely on the app to make money.
Additionally, TikTok is betting on the Texas Project, a $1.5 billion corporate restructuring plan that aims to establish an internal committee approved by the US government to enhance the app’s security. However, some say this will not be enough to convince lawmakers that TikTok is not a national security threat.
Undoubtedly, TikTok is having a tough time. And meanwhile, privacy and data security issues are more important than ever. We need a federal privacy law, folks!
Alternatives to a possible TikTok ban
Well, there are rumors of a possible TikTok ban in the US on national security grounds, which has led some advertisers to seek alternative options to reach their audience.
However, analysts do not believe advertisers should panic just yet; according to Jasmine Enberg, an Insider Intelligence analyst, «there is still no need for immediate action.» Moreover, data shows that top US advertisers have cut their spending on TikTok by 66% in recent months.
But of course, it’s always smart to have a contingency plan and not rely on a single platform.
Therefore, some advertisers are exploring alternative platforms, such as Meta, Snap, Reddit, and even the resurgence of Tumblr since the possible TikTok ban was announced last December.
Despite TikTok’s efforts to defend its territory, analysts are skeptical about the platform’s success in persuading lawmakers that it is not influencing American public opinion.
In any case, it seems that TikTok advertisers are seeking alternative platform options to reach their audiences!