The U.S. House Foreign Affairs Committee on Tuesday took up legislation that would give President Joe Biden the authority to ban TikTok.
and other U.S. digital media companies have been looking for signs of a rebound after a tumultuous 2022. They got some unexpectedly optimistic news this week.the authority to ban TikTok, the viral video app owned by China's ByteDance that's been swiping market share from social media stalwarts.
"Implications are great for anybody that has been losing market share to TikTok," said Laura Martin, an analyst at Needham, in an interview. She said Snap, Meta's Facebook andGet New England news, weather forecasts and entertainment stories to your inbox. 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.that 67% of teens in the U.S. use TikTok, and 16% said they are on it almost constantly. According to Insider Intelligence, TikTok controls 2.
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