STREAM REPORT NEWSLETTER

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TikTok’s Future Hangs in the Balance

March 20, 2024

Welcome to Stream Report, a newsletter from Gaming Careers covering important news and updates in streaming and content creation.

In this issue: We unravel the intensifying discussions around TikTok's potential U.S. ban and look at what it all means for the world of social media.

A Look at TikTok’s Possible U.S. Ban

A Look at TikToks Possible U.S. Ban
A Look at TikTok’s Possible U.S. Ban

TikTok’s future is currently a hot topic in U.S. government discussions. The platform, owned by the Chinese conglomerate ByteDance, has become the latest battleground in the U.S.’s ongoing concerns over data security and foreign influence, drawing attention from various political, business, and online creator spheres.

Here’s what you need to know about the latest developments:

Recent Legislative Actions

The House of Representatives recently passed a bill unanimously that could lead to TikTok being banned from U.S. app stores unless ByteDance divests and sells TikTok to a U.S.-based entity. After easily passing in the House, the bill moves forward, with the fate of TikTok now resting in the hands of the Senate.

The current bill also proposes stringent penalties for app stores hosting TikTok, emphasizing the urgency and severity of the legislative push against the platform’s current operational model.

A Political Plot Twist

As the bill moves to the Senate, it faces a complex mix of rules and politics. With the absence of a companion bill and the potential for individual senators to stall proceedings, it’s unclear how quickly or smoothly the process will go.

It is worth noting the reciprocal nature of app bans between the U.S. and China. Many major U.S.-based social media platforms, including Facebook, Instagram, Twitter, and Google services like Gmail and YouTube, are banned in China under the country’s stringent internet censorship regime, colloquially known as the “Great Firewall of China.”

This internet censorship aims to restrict access to foreign apps and websites that don’t align with local government policies, affecting social media and privacy-focused messaging apps alike. The situation with TikTok being possibly banned in the U.S. mirrors this, highlighting the global challenges of balancing national security concerns with open internet principles.​

Potential Buyers

Former Activision CEO Bobby Kotick and OpenAI’s Sam Altman are considering a joint bid and are thinking about buying TikTok. Also, figures such as Shark Tank’s Kevin O’Leary and former Treasury Secretary Steven Mnuchin have shown interest in the platform.

However, the feasibility of concluding such a complex transaction within the stipulated timeline remains a matter of speculation.

TikTok’s Rallying Cry

TikTok previously sent out a push notification to its vast user base in the U.S., sounding the alarm about the potential ban. The notification emphasized the severe implications of such a ban, including harm to millions of businesses and creators and loss of audience for artists.

Recently, in a short TikTok video, TikTok CEO Shou Chew has also called upon the platform’s users to voice their opposition to the bill, emphasizing a collective effort to overcome the challenges posed by the proposed legislation.

As TikTok involves its many users, what happens next could shape how social media works and how the U.S. and China interact in the tech world.

Read More

🔥 Pete’s Content Corner

Delve into my weekly selection of content creation highlights—handpicked videos, podcasts, and tweets that promise to captivate, educate, and entertain.

  1. Twitch announced its Watch Parties feature will discontinue on April 2, 2024. The company attributes the decision to reduced updates and a drop in popularity since the pandemic.
  2. MrBeast teams up with Prime Video to launch Beast Games, a reality competition with a massive $5 million prize, touted as the largest in TV and streaming history.
  3. YouTube is rolling out a way for creators to self-label AI-generated material in their content.

edition:

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The founder of Gaming Careers with a borderline unhealthy obsession for cameras, microphones, and all things streaming. He gets mistaken for Stephen Merchant at least 5 times a day.

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