TikTok’s uncertain future in the U.S. could be a win for Snap, especially as the TikTok ban calls into question the billions of dollars currently driving the short-form video app’s ad business.
The TikTok ban that had been brewing since former President Donald Trump’s time in office finally came to head this year, spurring marketers to draw up contingency plans out of caution. TikTok punched back with a lawsuit of its own to stop enforcement of the most recent bill, which would require its Chinese parent company ByteDance to sell TikTok or be banned in the U.S.. For now, everything is in litigation limbo. But should it all go to hell in a handbasket, Snap wants to cash in on TikTok’s spoils.
“Now, with the TikTok uncertainty, people are looking for, ‘Where are other places that maybe I haven’t invested as much of my time’,” said Patrick Harris, president of the Americas at Snap. “But knowing when they do invest that time, that they’re able to see returns that are consistent and can help meaningfully continue to move and grow their businesses. That’s the journey that we’re on.”
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