US businesses say they'll lose billions if TikTok ban enforced

Date:
Tue, 10 Dec 2024 14:04:00 +0000

Description:
US TikTok ban could devastate businesses, new claim says.

FULL STORY

The USs deadline on the proposed TikTok sell-off is fast approaching, and it looks like there may actually be a possibility the social media giant could disappear from US users' devices in January 2025.

As it stands, TikTok is set to be banned in the US on January 19 2025 - or
its Chinese parent company will be forced to sell due to national security concerns. President-elect Trump could reverse the ban, but as his administration doesn't take office until January 20, so there is potential
for a pretty disruptive gap.

TikTok insists the US does not face imminent threat of harm in regards to national security, but does point out that many US businesses would be irreparably harmed by a loss of audience and advertising opportunities.

De-influenced

With a shocking 12 million full-time influencers in the US , many of whom
will use TikTok as a large source of income, there could be some massive backlash against the ban.

This could have wider reaching consequences than expected for the US economy. The platform has over 170 million users in the US, and it been estimated that small businesses and content creators could suffer huge losses if the ban is enforced.

"Estimates show that small businesses on TikTok would lose more than $1
billion in revenue and creators would suffer almost $300 million in lost earnings in just one month unless the TikTok Ban is halted," TikTok's spokesperson said.

Previously, Donald Trump has vowed to save the platform in order to preserve competition in a market dominated by Mark Zuckerbergs Meta, but with Elon
Musk, (owner of rival social media company Twitter), by his side during the campaign trail, this may have shifted his view.

Via ArsTechnica

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Link to news story: https://www.techradar.com/pro/us-businesses-say-theyll-lose-billions-if-tiktok -ban-enforced

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