Is the clock ticking for TikTok?
Final week, throughout a congressional listening to, TikTok CEO Shou Chew was grilled by lawmakers. However in contrast to Fb CEO Mark Zuckerberg, his look appeared to activate fan help (until, in fact, TikTok used its “heating” instrument on itself).
With issues over how children use the app, the safety of US residents’ knowledge and the way the app’s algorithms could possibly be used to affect what content material folks see, the US is contemplating becoming a member of nations like India and Taiwan in banning the app.
However companies don’t appear too anxious {that a} ban will undergo. And if it does, nicely, a minimum of they will shift funds to YouTube Shorts?
Whereas lawmakers singled out TikTok for the listening to, TikTok and its social media friends can be equally affected by new legal guidelines designed to guard kids from the hazards of social media, reminiscent of its addictiveness and the way children can endanger themselves whereas utilizing it.
Final week, Utah handed a regulation that provides dad and mom unprecedented oversight over their children’ social media utilization. The regulation, which fits into impact subsequent March, requires social media platforms to share all the pieces about their teenagers’ accounts, from DMs to posts to searches. Minors would additionally want consent from a dad or mum to arrange an account and wouldn’t be capable of use a social media app at evening until their dad and mom modify the settings.
Different states are additionally contemplating the thought. California handed a regulation that goes into impact in 2024 designed to guard teenagers from darkish patterns. And states like Arkansas and Texas are following Utah’s path in creating extra guardrails for minors.
Then, we shut with a dose of information. Magna forecasted US advert spend for the second half of the yr, which it estimates will develop 3.4%. Regardless of inflation, layoffs, financial institution runs and an total doom-and-gloom feeling this winter, spring could also be coming. Out-of-home, streaming and retail media are all areas seeing above-the-norm progress, sending a glimmer of hope into the advert ecosystem.
