Meta and YouTube are set for a multibillion-dollar boost in revenues if ByteDance-owned TikTok is banned in the US on Sunday, say top advertising bosses, as rival tech platforms prepare for a potential land-grab of users and sales.
TikTok has warned that it will “go dark” for its 170mn US users from January 19 — the day before Donald Trump is inaugurated as president — under a new law that compels its Chinese parent ByteDance to divest the platform by that date or face a nationwide ban.
The potential ban has rivals including Meta, YouTube, Snap and Elon Musk’s X ready to pounce on TikTok’s Gen-Z users and the money that advertisers spend to influence them, as they look to grab market share in an increasingly competitive industry.
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