TikTok announced it is partnering with US music distribution company United Masters, days after the Trump administration ordered TikTok’s parent company, Byte Dance, to divest the video app’s US operations within 90 days.
TikTok-related stocks in the A-share market spiked in the afternoon session on Tuesday, with Shenzhen-listed Lecron Industrial Development Group rising to the 10% daily limit.
TikTok poises to explode much larger if this deal goes through, Trump won’t allow it.
US President Donald Trump has issued a series of executive orders addressing what he dubbed a technological national emergency, barring all transactions with the Chinese owners of social media apps TikTok and WeChat after 45 days.
According to an exclusive report in the Wall Street Journal on August 13, a number of U.S. companies with Chinese operations have resisted the Trump administration’s WeChat ban and stressed that it could weaken their competitiveness in the world’s second-largest economy. Apple, Ford, Walmart, Walt Disney, Procter & Gamble, Intel, MetLife Insurance, Goldman Sachs, Morgan Stanley, UPS More than a dozen major U.S. multinationals, including Express, Merck and Cargill, held a conference call with White House officials to express their concerns about Trump’s executive order. One of the purposes of the conference call, according to sources, is to clarify the specific meaning of Trump’s executive order. The order will prohibit Americans from carrying out “any transaction related to WeChat,” but leave it to the U.S. Department of Commerce to explain in detail what transactions will be prohibited.
And Craig Allen, president of the US-China Business Council, warned: “Those who don’t live in China don’t understand the impact of not allowing US companies to use WeChat. They will be at a huge disadvantage compared to all their competitors.” The report notes that WeChat has more than 1.2 billion global users and is ubiquitous in Chinese life and work. For any business doing business with China, WeChat is an important marketing venue for communicating with customers. The U.S. companies are hoping that the Trump administration will be able to narrow the scope of the “strike” when it implements the order in the future. It’s worth noting that on the 12th of December, Tencent CFO Luo Shuo Han 罗硕瀚 said that the company believes that the US ban only applies to WeChat’s international version, and not to the domestic Chinese market. They are seeking further explanation from the US authorities. But US companies are still concerned that the Trump administration’s approach could effectively prevent them from entering the lucrative Chinese market, for example by no longer being able to collect payments or advertise on WeChat. And some U.S. media are already worried about iPhone sales in China.
On the other hand, the U.S. entertainment and sports industries are also worried that digital services related to Tencent will be affected. For example, the U.S. professional basketball league (NBA) has reached an agreement with Tencent, authorizing the latter to broadcast games in China. The NBA “is waiting for further explanation of the executive order.
The Wall Street Journal argues that large U.S. corporations are often Beijing’s strongest supporters in Washington, but their influence has waned since Trump took office. Factor in the political climate under the US election and things become even more difficult. According to Scott Kennedy, a China trade expert at the Center for Strategic and International Studies, “Businesses are worried about upsetting Washington or Beijing and want to stay out of the ‘crossfire’ between the two sides as much as possible.” And in what can easily be seen as a “defense of China,” it is difficult for these companies to stand up and say “the United States is wrong, China is right.
On the other hand, the Trump administration’s daily provocations have greatly affected the business environment. The U.S. media quoted a survey released by the U.S.-China Business Council on the 11th, in which 86 percent of its more than 100 member companies reported that tensions between the U.S. and China have affected their sales and business in China.
At the same time, the survey, conducted in May and June, showed that 83 percent of its corporate members ranked China as a top goal or one of their top five priorities in their global strategy. Nearly 70 percent of respondents were optimistic about the business outlook for China over the next five years, and 87 percent revealed they have no plans to move production out of the country.
”U.S.-China trade and investment provides about 2.6 million jobs in the United States. In the coming years, we’ll have to maintain and add jobs while finding ways to reduce conflict between the two sides in other areas,” The president of the U.S.-China Trade National Council said.
8-14-20 According to market research firm Sensor Tower, more and more users in the United States are opting to download WeChat and its encrypted alternative, Signal, after President Trump threatened to ban it. U.S. WeChat users are hoping to get it installed properly before the software is removed from major app stores. Others want to use alternative services, including Signal, an encrypted chat software developed by the nonprofit Signal Foundation. According to Sensor Tower, WeChat’s average number of downloads in the U.S. in the last six days was 41 percent higher than the week before the ban was announced last Thursday, while Signal’s downloads in the U.S. and China grew by 30 percent and 90 percent, respectively. Some U.S. users say they plan to use WeChat in the U.S. using a virtual commutation network (VPN).
WeChat is not just a texting platform, it is also a payment system for the Chinese users, bypassing the US financial system.
9-19-20 The Commerce Department said Friday that as of Sunday, any moves to distribute or maintain TikTok on app stores such as Apple Store and Google Play will be prohibited, and a more extensive ban against the app would be applied from Nov. 12. Business insiders said that, under Friday’s decision, TikTok’s users who had already downloaded the app may continue using it, but they will not be able to download updated versions from Sunday. According to the company, as of June, the total number of TikTok’s monthly active users in the country soared to 91,937,040, and based on quarterly usage, 100 million Americans used the app.
9-19-20 TikTok on Saturday confirmed that it has reached a proposed deal with US companies Oracle and Walmart. “We are pleased that the proposal by Tiktok, Oracle, and Walmart will resolve the security concerns of the U.S. administration and settle the question around TikTok’s future in the US,” the company said in a statement. Oracle will become TikTok’s technology provider and it’s also working with Walmart on a commercial partnership, the statement said. Shortly after TikTok confirmed the deal, the US Department of Commerce announced an order to delay TikTok’s US app store ban by a week until September 27. The order said the decision was taken “in light of recent positive developments,” and at US President Donald Trump’s direction the ban will be postponed until 11:59 p.m September 27. Trump on Saturday told reporters at the White House he backs the deal with TikTok owner ByteDance, Oracle and Walmart. “I have given the deal my blessing,” Trump said. “I approve the deal in concept.”
9-20-20 A U.S. judge early Sunday blocked the Commerce Department from requiring Apple and Alphabet’s Google to remove Chinese-owned messaging app WeChat for downloads by late Sunday.
9-29-20 Trump’s ban on Tiktok is temporarily blocked by a US federal judge.
TikTok confirmed Thursday that it will establish a new European data center in Ireland, its first in Europe, a move that analysts said displays the company’s determination to strengthen data security and pursue overseas expansion, despite the US’ mafia-style crackdown on the short video app.
The investment in Ireland, to the value of approximately 420 million euros ($500 million), will create hundreds of new jobs and play a key role in strengthening security of TikTok’s user data in Europe backed up with a state-of-the art network security defense system there.
The data center is expected to be operational in early 2022.
TikTok established the Europe, the Middle East and Africa (EMEA) Trust and Safety Hub in the Ireland’s capital Dublin at the beginning of the year. TikTok’s Irish company has recently become the data controller alongside TikTok’s UK company, with the former now the service provider for users across the European Economic Area and Switzerland, according to TikTok.
Why is Trump going to ban TikTok? Here are three possible reasons: 1.A rising Chinese company puts pressure on US tech giants 2.Young Americans love TikTok, Trump who is very fearful of Chinese influence on the youths 3.The US targets foreign companies that threaten its technology superiority.
“We’re not going anywhere”, Vanessa Pappas, general director of TikTok US, said in a video posted to twitter on Saturday, as uncertainties loom over the app’s future, including a threat made on Friday by the US President Donald Trump to ban TikTok in the US.
In the video that was also pushed to all TikTok users in the US, Pappas thanked TikTok content creators, users and its 1,500 US staff. She noted that the company will offer ten thousand jobs in the US in the next three years.
On Friday, President Trump said he will soon ban the Chinese-owned app, calling it a “severance”. Trumps said he plans to sign an order to ban US access to the app as early as Saturday.
The pending ban on TikTok has left many content creators feeling uncertain about the future of the app and some are switching to other platforms. The hashtags TikTokband and ByeTikTok were featured in many videos, and many TikTok celebrities have asked followers to continue to support them on YouTube and Instagram.
Since threatening to ban TikTok last week, which reportedly has 100 million American users, US President Donald Trump is giving ByteDance, TikTok’s Chinese parent company, 45 days to reach a deal to sell its US business to US software giant Microsoft, Reuters reported on Monday, citing sources.
By slapping a deadline on the potential deal, Trump has effectively turned transaction into a fire sale, further pressuring Beijing-based ByteDance to give up its business interests and intellectual property at a discounted rate.
The latest TikTok statistics show that as of April 2020, the popular video app has been downloaded more than two billion times worldwide on both the Apple App Store and Google Play (Sensor Tower, 2020). In other words, TikTok was able to double its number of downloads in just over a year—a clear sign of the app’s skyrocketing popularity.
Here’s a summary of the TikTok statistics you need to know in 2020:
TikTok has 800 million active users worldwide.
The TikTok app has been downloaded over 2 billion times on the App Store and Google Play.
TikTok ranked as the top most downloaded app in Apple’s iOS App Store for Q1 2019, with more than 33 million downloads.
41 percent of TikTok users are aged between 16 and 24.
TikTok has been downloaded 611 million times in India, which is around 30 percent of the app’s total global downloads.
When it comes to the daily time spent on TikTok, users spend an average of 52 minutes per day on the app.
TikTok is available in 155 countries, and in 75 languages.
90 percent of all TikTok users access the app on a daily basis.
In less than 18 months, the number of US adult TikTok users grew 5.5 times.
There was an average number of more than 1 million videos viewed every day in a year.
8-3-20 Bytedance said it is facing “complexity and unimaginable difficulties” in its process of becoming an international company, including international political tension, cultural clash and smearing from its competitor Facebook.
Bytedance is devoted to its internationalization and will use its legal rights to defend its legitimate interest, the company said.Quote Tweet