What TikTok Ban? China's Social Media Firm Introduces New Ad Product
- TikTok shared plans to launch Pulse Premiere, allowing a privileged group of creators to collect half the revenue from video ads just after their TikTok posts.
- The new product promises to dole out similar perks for accounts from select publishers, like Condé Nast, BuzzFeed, Inc (NASDAQ: BZFD), and NBC, the Wall Street Journal reports.
- While Pulse is only available to the top 4% of its creators' posts—based on metrics such as likes, watch time, and comments—the new product will sell ads against all posts from participating publishers.
- Many publishers are battling harsh economic conditions, resulting in cost-cutting and layoffs across the industry.
- Advertisers have flocked to TikTok to reach its young users. More than 150 million Americans are now on TikTok, the company has said.
- TikTok will likely have 2.5% of the U.S. digital ad market this year, and its U.S. ad revenue will likely surge 36% to $6.83 billion. Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google and Meta Platforms Inc (NASDAQ: META) together will likely capture almost 45% of U.S. digital-ad revenue this year.
- The new ad product comes as China's ByteDance Ltd-owned app faced a possible ban in the U.S. TikTok has pushed back against allegations of its ties to the Chinese government and has proposed a $1.5 billion plan to isolate its U.S. operations from China.
- Photo by olivier bergeron via Unsplash
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