At the NewFronts presentations in New York, tech and social media giants are vying for advertising deals, capitalizing on TikTok’s political uncertainties in the U.S. to attract ad dollars away from the popular short-form video platform.
Recent developments, including President Joe Biden’s signing of a bill requiring Chinese tech company ByteDance to divest TikTok within a year due to national security concerns, have heightened the competition.
While TikTok remains resilient, announcing new partnerships in sports and entertainment, competitors like Snap (NYSE:SNAP) and Meta Platforms Inc. (NASDAQ:FB) are seizing the opportunity to lure advertisers with innovative offerings.
Snap, for instance, is partnering with NBCUniversal to send influencers to film content at major events like the Olympics and host clips of top concerts from Live Nation. Snap’s president of Americas and partnerships, Patrick Harris, emphasizes the platform’s reliability and viability amidst the noise.
Meta’s focus at the NewFronts is on Reels, its TikTok competitor embedded within Instagram, aiming to attract displaced users and revenues in the event of a TikTok ban.
Meanwhile, Google (NASDAQ:GOOGL) highlights the increasing viewership of its short-form video feature, YouTube Shorts, on TV screens alongside phones.
Despite the uncertainty surrounding TikTok’s future, advertisers remain focused on the near-term, exploring innovative capabilities across various platforms. Alex Stone, senior
vice president of agency partnerships at Horizon Media, underscores the importance of adapting to the evolving landscape while leveraging available opportunities.
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