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A Benzinga survey shows where U.S. TikTok users might shift their time and attention if the app, which is owned by Beijing-based ByteDance, is banned.
Users were asked, “If TikTok is banned, which platform will you use more?”
The results were:
- Instagram: 38.3%
- Twitter: 26.3%
- Snapchat: 20.6%
- Facebook: 14.8%
Instagram was the runaway winner in the poll. Parent company Meta Platforms META could have a one-two punch with ownership of both Instagram and Facebook. Users from TikTok could flock to either or both of these platforms.
Twitter ranked second and if the platform can increase its video efforts and monetization for users, it could see users from TikTok flock over.
Snapchat, which is owned by Snap Inc SNAP, saw shares rise earlier this week but based on the results of the poll, it might see less of an impact from a ban on TikTok and it could now be priced into shares.
YouTube Shorts from Alphabet Inc GOOGGOOL are also an option.
This survey was conducted by Benzinga in March 2023 and included the responses of a diverse population of adults 18 or older.
Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 250 adults.
Read Next: Trump Recalls Time He Wanted To Disable TikTok, ‘I’ve Been Right About Everything
Why Ban TikTok?
The U.S. House Foreign Affairs Committee recently authorized President Joe Biden to ban the social media app.
China has not responded favorably to the news with a foreign ministry spokesperson referring to a potential ban of TikTok as an abuse of state power.
The U.S. “has been overstretching the concept of national security and abusing state power to suppress other countries’ companies,” Mao Ning said, according to The Guardian.
Federal agencies have been banned from using TikTok on all government devices — a move seen as a security concern.
In December, the Federal Bureau of Investigation (FBI) raised concerns about the potential security threats of TikTok and how it could be used for espionage operations in the U.S. FBI director Chris Wray said China can “manipulate content, and if they want to, to use it for influence operations” thanks to their algorithm that recommends videos.
Concerns over users’ data held by TikTok previously forced the exploration of a sale of the company’s U.S. division. Oracle Corporation ORCL was close to getting a deal to handle the U.S. division data storage and management but was shelved.
It’s worth noting that ByteDance is backed by major U.S.-based investment firms, including Sequoia Capital, Kohlberg Kravis Roberts and Tiger Global Management.
Related Link: TikTok Sets Limits For Ggen Z’s Screen Time, Finally a Digital Nanny For The Digital Natives
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Image and article originally from www.benzinga.com. Read the original article here.