TikTok in 2023 has faced many obstacles and challenges compared to previous years. The company's CEO, Shou Zi Chew, testified before Congress to discuss the TikTok app and national security concerns back in March. In spite of all of this, a Reuters report confirms TikTok advertising and spending remains business as usual regardless of possibility of a ban.

One of the pieces of legislation titled the "Restricting the Emergence of Security Threats that Risk and Communications technology (RESTRICT) Act" would grant President Joe Biden powers to ban the app.

Since the hearings, viral stories have circulated in news outlets and on social media about what would happen in the event of a ban.

It is also a known fact that social media giants like Facebook have been lobbying hard against TikTok. As reported by the Washington Post, Facebook has hired consulting firm Targeted Victory to run a negative campaign against the Chinese-based app.

TikTok advertising remains a return on investment for companies and brands

As previously mentioned, advertisers have not been deterred from investing elsewhere. On the contrary, TikTok will host a presentation for advertisers on Thursday, May 4, 2023, in New York. The event is part of NewFronts, an annual week of events where social media platforms like TikTok pitch their newest content and features for marketers.

TikTok advertising has benefitted from the chaotic takeover of Twitter by Elon Musk and the data scandals plaguing Facebook. In addition, the congressional hearings have boosted the app instead of driving users away from the app.

TikTok ad revenues are expected (detailed report compiled by the Insider Intelligence firm) to boom in 2023.

It is estimated that the app will achieve $6.83 billion in advertising revenue and grow a whopping 36 percent.

The Chief Executive of Influential, Ryan Detert, who run an influencer marketing company, has acknowledged that none of their clients have not indicated divesting away from TikTok.

The TikTok algorithm remains a mystery and a very addicting feature for users of the app

TikTok's algorithm and app have seen a lot of success in the past four years. Not only has it dethroned American social media companies, but forced them to copy it. Major social media companies based in the U.S. launched a competing app to TikTok. For instance, Alphabet (AKA Google) launched Shorts; Facebook unveiled Reels; Snapchat created Spotlight, etc.

Have you noticed the "pin" feature everywhere? Guess who came up with it? Of course, TikTok. It was unimaginable that today an app owned by a parent company called ByteDance would become a trendsetter and global cultural phenomenon.

A pivotal executive from TikTok departs from the company

The company confirmed on Tuesday that its head of U.S. trust and safety would depart from TikTok as early as next week. This is a critical division of the company because it oversees the department responsible for content moderation, safety tools and user data.

TikTok's CEO plugged "Project Texas" to reassure lawmakers that user data is not funneled to China. However, given this abrupt departure, we can only wonder if it will make a stronger case to ban TikTok for good.
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