Meta shares lost two-thirds of their value as the company experienced three consecutive quarters of declining revenue. He said Snapchat's Spotlight, introduced in 2020, and YouTube Shorts, which came out in 2021, 'would also benefit.'Īll three platforms had a rough 2022. 'If TikTok were to go away, I think that there would be a lot more consumption of Instagram Reels,' Boone said in an interview. Video plays on Facebook and Instagram more than doubled within the past year. Meta said during its fourth-quarter earnings call that it expects Reels to become revenue neutral by the end of the year or in early 2024. Josh Hawley, R-Mo., renewed calls for a complete nationwide ban in January. Congress banned TikTok from government devices as part of a bipartisan spending bill in December, several governors have removed the app from state computer networks -including at public universities - and Sen. According to Insider Intelligence, TikTok controls 2.3% of the worldwide digital ad market, putting it behind only Google (including YouTube), Facebook (including Instagram), Amazon and Alibaba.īut data privacy concerns have been growing with TikTok because of its parent company, which is based in China and privately held. use TikTok, and 16% said they are on it almost constantly. An August Pew Research Center survey found that 67% of teens in the U.S. In 2021, TikTok topped a billion monthly users. TikTok has been on a meteoric rise in the U.S., and its impact was particularly noticeable in 2022, as a sputtering economy pulled down the online ad market.

She said Snap, Meta's Facebook and Google's YouTube could be 'huge beneficiaries' if the ban ultimately takes place.

'Implications are great for anybody that has been losing market share to TikTok,' said Laura Martin, an analyst at Needham, in an interview. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit

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