Time may be running out for TikTok, American teens’ favorite social media app. The US House of Representatives recently passed a bill that would require TikTok’s parent company, China-based Bytedance, to divest the service or face a ban in the US. The US Senate is expected to vote on the measure this week. With 170 million users in the US, TiKTok has attracted more than half of all Americans to the service. According to the most recent Piper Sandler survey, 35% of American teens list TikTok as their favorite social media service, while Instagram gained 7 points to 30% from the broker’s Fall 2023 survey. US lawmakers and voters may also note that the pop star Taylor Swift recently brought her music back to TikTok ahead of the launch of her new chart-topping album The Dead Poets Department.
Source: Piper Sandler, April 2024