Influencers and small businesses relying on TikTok for income could be about to lose their jobs. Though the ban has been looked at as somewhat uncertain, TikTok’s appeal to block the ban being recently denied has made it much more real. And for those profiting on TikTok, this is going to be majorly detrimental. First Insight found that 16% of creators rely on TikTok for over 75% of their earnings, and the platform’s refined “Creator Rewards Program” significantly boosted the number of creators earning substantial monthly incomes. And as 70% of brands use TikTok for marketing—including affiliate marketing—losing access to the platform is projected to cost creators and small businesses $1.3B in revenue within a month of a potential ban, according to TikTok’s court filings. In preparation for this possibility, many creators are already considering alternatives to drive their audience toward, with 40% planning to migrate to Facebook and 33% to Instagram. (Fast Company)
📈 YPulse reported: YouTube Shorts would be young people’s top choice to move to in both regions second choice if TikTok is shut down
