TikTok is the only foreign social network that is highly popular in America and has even surpassed Facebook and Instagram. But the US government has taken new measures to limit it.
Members of the Senate have recently introduced a new bill that would give the US government broader powers to restrict or even ban foreign software or electronics manufacturers. Even though the draft of the introduced law does not explicitly mention TikTok, by reading it, you can understand that this Chinese social media network is targeted. According to CNN, the Emerging Security Threats Endangering Information and Communications Technology Act (RESTRICT) was unveiled after two years of negotiations with TikTok to address US concerns about the program. Concerns about how much of TikTok users’ data can be seen by the Chinese government have grown in the United States and Europe.
TikTok has gained a large following in the United States and Europe, with the app’s revenue market share surpassing that of older social media networks such as Instagram and Facebook. Currently, TikTok’s revenue share in the United States includes 26% of the market, which is much higher than Instagram’s 14%. TikTok’s share of ad spend in the US, UK and Germany is between 9% and 12%, behind larger ad spenders Facebook, Instagram as well as professional networks Linkdin.