Caixin
Mar 27, 2024 04:36 AM
BUSINESS

Rivals Vie to Fill Market Void as U.S. Business Ban Looms Over TikTok

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A ban on TikTok would significantly alter the landscape of the short video industry in the U.S., affecting 7 million small businesses and 170 million Americans who use its services
A ban on TikTok would significantly alter the landscape of the short video industry in the U.S., affecting 7 million small businesses and 170 million Americans who use its services

The looming threat of a business ban on TikTok in the United States is driving millions of users and advertisers to seek alternatives to the popular short video platform, presenting a significant opportunity for rivals such as YouTube and Meta.

Data released by Sensor Tower in March indicates that, over the past 90 days, nearly 94% of TikTok users in the U.S. have begun using Alphabet’s YouTube. Additionally, 80% of TikTok users have shifted their attention to Instagram, 68% to Facebook, and 55% to Snapchat.

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