March 17, 2023

Is TikTok’s Demise On The Horizon?

Frankie Pike

This week, President Joe Biden told TikTok’s Chinese parent company, ByteDance, to sell the video-sharing app or face bans in the U.S.

The news comes amid growing concerns over data security and safety in the app, with U.S. lawmakers pushing for a wholesale ban on TikTok.

With the proposed legislation, Biden would be able to ban the app.

In 2021, TikTok’s share of U.S. digital ad spend was 2.4 percent—the same as YouTube and higher than Twitter, according to The Drum. Experts predict that TikTok could reach $11 billion in U.S. net ad revenues in 2024.

The pressure is expected to make many advertisers seek alternatives, such as Instagram Reels and YouTube Shorts. TikTok’s future, at the moment, is still uncertain, though, and some experts are skeptical that the ban will actually happen.

Across the sea, the UK banned TikTok on official government devices yesterday.

Twisted Tea introduces “VasectomUndies”

Twisted Tea Hard Iced Tea just launched “Twisted Tea VasectomUndies,” limited-edition boxer shorts that feature pouches to hold two 12-ounce cans of the beverage.

“Twisted Tea Hard Iced Tea VasectomUndies, made with ultra-soft and soothing fabric, are THE boxer of choice for icing your balls while you watch athletes play with theirs,” reads the product description. Photo provided by PRNewsfoto/Twisted Tea

The merchandise was timed to coincide with the NCAA March Madness basketball tournament, which sees a 30 percent increase in vasectomies, according to the press release.

“Twisted Tea VasectomUndies are our twisted answer to an outrageous cultural phenomenon that inspires thousands every year,” said Erica Taylor, senior brand director for Twisted Tea.

The playful merchandising tactic could help the Boston Beer Company brand stand out in a crowded market.

Other news

  • Google is adding AI to its Google Workspace.
  • If Google Trends is any indicator, SXSW still hasn’t fully rebounded vs. pre-COVID. That is, if you believe search volume is a good proxy for relevance. But based on the eye test in downtown Austin, the event seems to be firing on all cylinders, which is great for the Austin business and creative community.
  • BuzzFeed hopes to increase the number of stories it publishes each day in an effort to boost traffic and help its newsroom become profitable, according to The Wall Street Journal. The stock is trading at ~$0.95 per share now compared to over $4 per share a year ago.
  • The FTC is urging social platforms to detail scam protection processes for users.
  • Meta is introducing its Meta Verified program to U.S. users, offering blue checkmarks on Facebook and Instagram for $11.99 and up.
  • According to marketing intelligence firm Comperemedia, organic engagements within a marketing strategy, such as big, maximalist campaigns, are out. Meanwhile, small, niche, and natural campaigns are in. See the full analysis here.

That’s all for this week’s Marketing Roundup. Check back in next Friday for more news. And subscribe to our newsletter below for additional updates.