Photo credit: Bolivia Inteligente
Despite TikTok's lobbying efforts and a multi-million dollar advertising campaign opposing the measure, the forced sale bill was officially signed into law.
The Senate only recently voted in favor of the amended bill and a number of other bills following its approval by the House last weekend. And, given past signs of support for a bill to ban TikTok, President Biden just quickly signed the bill into law.
The House had already given the green light to the TikTok ban bill before passing it over the weekend, but the first vote was on an earlier iteration that would give ByteDance six months to withdraw or shut down the video-sharing app in the United States. It was against
What happens after TikTok is banned in the US?
In this comprehensive whitepaper, DMN Pro analyzes the short- and long-term winners and losers in the music industry. This includes major and indie labels, publishers, songwriters, various artist demographics, and sync platforms. Now that Congress and President Biden have decided to take down TikTok, you're probably standing here. (DMN Pro subscribers only, sign up here.)
However, as we reported, the new version (which can technically also be applied to certain platforms other than TikTok) expands the period to around nine months, with the possibility of an extension of three months. .
Importantly, while the move calls for ByteDance's withdrawal from TikTok in the US, where the app has faced all sorts of security-related criticism, the “ban” reference comes from TikTok itself. .
In opposing the bill and encouraging users to voice their opposition, executives rather directly characterized the bill as a complete ban on TikTok. Part of ByteDance belongs to the Chinese government, and many have speculated that the tech conglomerate would not allow TikTok to be sold under any circumstances.
(Still, despite TikTok's high price, the unprecedented logistical considerations involved in the deal, and the inherently fickle tastes of social media users, multiple groups are lining up to buy the service.) are making)
According to multiple reports, TikTok plans to vigorously fight the ban in court soon. Towards the end of 2023, a federal judge blocked a ban on TikTok in Montana.
In addition to monitoring TikTok's legal efforts in the coming months, it will also be worth keeping an eye on other such regulatory efforts by various governments.
In the European Union, for example, TikTok is banned from official devices and continues to evade widespread scrutiny.
Finally, it goes without saying that the outcome of this situation will prove decisive for the industry. TikTok, which boasts around 170 million users in the United States, has emerged as a major promotional tool. It's not just Taylor Swift who chose to re-add her songs before releasing The Tortured Poets Division, despite an app licensing dispute with Universal Music. .
We've already taken a closer look at what exactly the TikTok ban means for the industry, including artists, labels, publishers, and more. Meanwhile, in conclusion, it's worth mentioning that the National Association of Music Publishers' TikTok agreement is set to expire six days from now.