ByteDance may have to sell TikTok in the US if a proposed bill passes the Senate. Some high-profile investors, including former Treasury Secretary Steven Mnuchin, online video platform Rumble, and former Activision Blizzard CEO Bobby Kotick, have expressed interest in acquiring the app. This article presents a list of known potential buyers along with a primer on companies that have previously tried to purchase TikTok.
Friday, March 15, 2024American lawmakers are pushing for a bill that would force ByteDance, TikTok’s parent company, to divest from the app within 165 days. Otherwise, the company will face a ban in the US due to concerns over Chinese ownership and potential national security threats. TikTok has expressed concerns, claiming the bill infringes on its First Amendment rights.
Wednesday, March 6, 2024The House passed a bill requiring ByteDance to sell TikTok or face having it banned on US devices. The bill received bipartisan backing with a 352-65 vote. Proponents argue the measure is vital for national security, while opponents contend it violates free speech rights and could harm businesses. The bill’s fate in the Senate remains uncertain.
Facebook rolled out a vertical-first video player in a move to attract younger users while positioning itself as a potential alternative in case of a TikTok ban in the US.
President Joe Biden has signed into law a bill that orders TikTok owner ByteDance to sell the company within 270 days or lose access to the US market. Biden can extend the deadline by up to 90 days if a sale is in progress. If ByteDance doesn't sell TikTok, app stores in the US will have to drop the app and internet hosting services will be prohibited from providing services that enable distribution of TikTok in the US. ByteDance will file a lawsuit to attempt to block the law.
President Biden has signed a foreign aid package that includes a bill that will ban TikTok if China-based parent company ByteDance fails to divest the app within a year. The company plans to contest the law in court, arguing the law is an infringement on the constitutional rights of U.S. users. Uncertainties linger over China's reaction and whether it will even allow a potential sale.
ByteDance would rather shut down TikTok than sell the company. The US only provides a quarter of TikTok's global revenue and only represents 5% of ByteDance's daily active users across all of its media platforms. The short deadline to sell would likely put downward pressure on any potential sale price, making the option even less appealing. Selling the company would mean divesting the algorithms that power TikTok and its video recommendations, which raises more complications.
71 social media post templates that can help streamline the content creation process, ensuring visually appealing and consistent posts across multiple platforms. Covering Instagram, Facebook, LinkedIn, TikTok, and more, these templates help maintain brand cohesion and engage audiences effectively.
About 24% of people now primarily use social media for online searches. A third accessing the internet solely via mobile phones. Gen Z uses Google 25% less than Gen X, opting more for platforms like TikTok for their searches. YouTube is also increasingly being used like Google, with 57% of people searching for information on it.
X is losing its status as a key news source, with TikTok surpassing it in several regions. There has been a decline in news consumption on Facebook and X despite efforts by Elon Musk to position X as a leading news platform. TikTok's popularity for news is growing. YouTube and Facebook remain the most used platforms for news, while X struggles to gain credibility. A link to the full 168-page report is provided in the article.
Brands struggle on TikTok due to several key factors: reluctance to embrace unconventional or "ugly" content that resonates with the platform's audience, failure to engage through compelling hooks and in-app styles that disguise branded content, and a lack of strategic posting that prioritizes quality over quantity. Successful TikTok strategies involve leveraging capcut filters, meme-style content, and real-life moments, deviating from traditional brand presentations to capture user attention effectively. Planning content as a social calendar without thoughtful engagement strategies can lead to TikTok penalizing brands by limiting their reach.
Contrary to the belief that modern audiences have shorter attention spans, videos ranging from 13 seconds to over 26 seconds performed well on Instagram and TikTok in 2023. New research from Emplifi shows that Instagram Reels and TikTok videos remain key drivers of brand engagement. While Instagram leads in median video views, TikTok has been closing the gap, indicating that audiences on both platforms are receptive to longer content.
Amazon has partnered with TikTok and Pinterest to let their users buy products on its platform without leaving the social media apps. The deal enables users to link their social media profiles to their Amazon accounts and buy products directly from ads. Users will see real time pricing, Prime eligibility, delivery estimates, and product details in-app. The deal follows similar arrangements with Meta and Snap.
The "underconsumption core" trend on TikTok promotes buying less, saving more, and making the most of what you already own. Its influencers showcase DIY projects, thrifting, and repurposing to encourage a minimalist lifestyle.
The White House Creator Economy Conference invited 100 creators and industry pros to hear concerns about AI, compensation, and the impact of social media on mental health. President Biden recognized creators as influential new media sources and emphasized their role as top job aspirations. Marketers were advised to adapt and invest in becoming "creator ready", addressing concerns about TikTok regulations and the need for more social platform competition.
It's almost impossible to scroll through your For You Page without coming across a live video where you're being directly sold to — akin to the '90s shopping channel QVC. These streams give users community interaction, advising each other in the comments, as well as a celebration moment when someone makes a purchase in front of hundreds of other users. Many businesses in China, the UK, and the US have turned to this sales format via TikTok Shop, as social media users are increasingly willing to make purchases directly through the app.
This deck highlights how younger audiences (18-25 years old) are reducing social media usage, shifting the focus to niche, interest-driven interactions. It discusses TikTok's growing role as a search engine for Gen Z and the rising importance of longer content formats. The deck also emphasizes the need for brands to create serialized, scalable content across multiple channels and the power of "weak ties" in niche communities to build loyalty.
Social shopping is growing but not as quickly in Western markets as it has in China, where Douyin saw $375 billion in sales in 2023. TikTok, in comparison, generated $4 billion in in-app spending last year. Facebook leads in driving social shopping behavior, but Snapchat and Reddit have higher purchase rates among their engaged users. Short-form videos are currently the most influential content type in social commerce, though security and trust issues continue to pose challenges for social shopping adoption.
The #PNW aesthetic, inspired by the Pacific Northwest's foggy landscapes, is making waves. #BritishCore celebrates British pop culture and sports. Food trends like #FilipinoFood and #snackbox ASMR are gaining popularity, with creators sharing recipes and food-prepping tips. Romance novels dominate on #BookTok, with sub-genres like #billionaireromance and #hockeyromance gaining traction.