Banning TikTok would be a “gut punch” to Hollywood’s advertising capabilities, according to insiders.
The “engagement and awareness for movies and celebrities is unmatched on TikTok,” said Wedbush Securities tech analyst Daniel Ives in an interview with Variety. A TikTok ban “would be removing the hearts and lungs of social engagement across Hollywood and would be a gut punch in our view,” he said.
Studios have increasingly turned to the app to promote their films. The distributor Neon has “shifted a lot of our investment and our advertising dollars” to TikTok, said Christian Parkes, the studio’s chief marketing officer. “We’ve been able to manufacture followings far quicker there than on other platforms. TikTok is ground zero right now.”
[voting_poll post_id=”89963″]
In the coming weeks, the U.S. Senate will vote on a bipartisan bill requiring China’s ByteDance to divest from TikTok within six months or see the app banned in the U.S. The bill passed in the House by a vote of 365 t0 352. Senate Intelligence Committee Chairman Sen. Mark Warner (D-CA) suggested this week that the bill may require amendments before it can be passed in the Senate.
show less