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AS THE POSSIBILITY OF A U.S.ban on TikTok looms, influencers have found themselves grappling with the potential ramifications on their careers and livelihoods.
The video-sharing app-which has 150 million users in the United States is the cornerstone of many influencers' online presence, a crucial avenue for audience engagement and a significant source of income.
But, fueled by concerns over national security, on April 24 President Joe Biden signed into law the bill that started a 270-day clock for TikTok's Chinese parent company Byte Dance to divest their stake in the company, otherwise a U.S. TikTok ban comes into effect. "It's like a stab in the back," said Noah Jay Wood, a content creator and actor with 7.2 million followers for his account @noahjaywood on the app.
"TikTok is the foundation of all of my social media platforms. So without TikTok, I would have never grown on like Snapchat, Instagram, YouTube," he told Newsweek.
According to Influencity, a platform specializing in influencer marketing, the U.S.has an estimated 10 million influencers.
Increasingly, these individuals are forging full-time careers in content creation. Goldman Sachs reports that the creator economy, encompassing such influencers, was estimated to be a $250 billion Industry in 2023 and is projected to hit $480 billion by 2027.
This story is from the May 31 - June 07, 2024 (Double Issue) edition of Newsweek US.
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This story is from the May 31 - June 07, 2024 (Double Issue) edition of Newsweek US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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