While ByteDance developed it for the Chinese market on Android and iOS in 2016, it steadily gained popularity worldwide. TikTok is a free social application for creating, editing, and sharing videos. The legislation would be "a ban on the export of American culture and values to the billion-plus people who use our service worldwide," the spokesperson told CNN.Dinkar Kamat Updated 23 days ago Free video-creation and sharing "For META, its scale may not make it a huge beneficiary immediately, but it will be a major beneficiary of TikTok just exiting its most important market."Ī TikTok spokesperson told CNN that a US government ban of its app would limit American speech. Zino said growth at Google's YouTube could be accelerated as that platform's engagement levels and user base is the most attractive option for advertisers. "However, given how similar the demographic of the installed base of both TikTok and SNAP are, should SNAP just capture $550 million of this figure (we view this as conservative), based on 2024 expected revenue, it would add about 10 percentage points to the company's top-line." TikTok's projected US revenue for 2023 is roughly 1.5 times the total revenue level for Snap. "A TikTok ban would move the needle more for SNAP than others," said Zino. ![]() TikTok going dark in the US offers social media companies potential earnings leverage and upside to consensus estimates at a time when they've been cutting costs. TikTok, known for delivering viral content through short videos, looks set to rake in $7 billion in US revenue this year and about $9 billion-$10 billion in 2024, CFRA said.
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