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Tech companies bid for advertising agreements while politics sully TikTok

As the tech and social media giants gather at the NewFronts in New York, short-form video takes the spotlight, with platforms like Snap and Meta aiming to capitalize on TikTok’s uncertain future in the U.S. and snatch ad dollars from their competitor.

Just a week after President Biden signed a bill urging ByteDance to divest TikTok due to national security concerns, platforms like Snap and Meta are stepping up their game. TikTok, however, remains defiant, vowing to contest the legislation.

TikTok revealed new collaborations in sports and entertainment at its NewFront presentation, including an agreement with NBCUniversal to distribute video from the 2018 Olympics in Paris. According to Emarketer, TikTok is still expected to earn $8.66 billion in U.S. ad revenue this year while dealing with political unrest.

Snap, owner of Snapchat, is also joining the fray, teaming up with NBCUniversal to send influencers to the Olympics and stream top concerts from Live Nation. Snap’s focus on professionally produced content aims to appeal to brands wary of the pitfalls of user-generated or AI-generated content.

Meanwhile, Meta is doubling down on its Reels feature on Instagram, positioning it as a direct competitor to TikTok. With Reels already gaining traction, Meta is keen to attract displaced TikTok users and their advertising dollars.

Even as uncertainty looms over TikTok’s future, advertisers remain focused on the present, prioritizing innovation and exploring new advertising opportunities. Despite the noise surrounding TikTok, industry players are keeping their eyes on the horizon, ready to adapt to whatever changes may come.

Sadhna B

Sadhna B

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