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The Future. With President Biden signing the bill that forces ByteDance to either sell TikTok or face a ban in the US, the creator economy is reckoning with what life would look like without the platform. In short, it would be radically different. TikTok said that it would fight the legislation tooth and nail, but a ban would likely give Instagram a major surge in engagement. We imagine that Zuck is already popping champagne bottles.
Crisis countdown
By this time next year, TikTok may be long gone. That has creators and businesses scared.
- Many creators have followings only on TikTok, meaning that once the app is gone, their careers essentially start at zero — an “extinction-level event,” says James Nord, founder of the influencer marketing platform Fohr.
- That’s because many of them make money from TikTok-specific features, like recommending products on Shop or filming speculative ads for brands through Creativity Challenge.
- TikTok says that a ban would “threaten the income of at least tens of thousands of people in the US,” according to Wired.
Additionally, 33% of American adults now report having used TikTok, which shows that the user base is starting to age up and that more brands and businesses are using the platform to expand their reach.
If TikTok goes, so might their virality.
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