This Week on Social - ByteDance Owned 'Lemon8' a Potential TikTok Replacement?

Each week the insights team at The Goat Agency pull together the latest news from the social space in a weekly social media news round-up. This week we look at the trending ByteDance owned 'Lemon8', Meta's move to ban further ad formats, and the latest news on TikTok's looming ban threat.

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(1/5) ByteDance's 'Lemon8' a potential TikTok replacement?

Lemon8 is the new social media app surging up the US App Store charts. Like TikTok, the app is owned by Beijing-based ByteDance.

As TikTok’s future remains in doubt, Lemon8 is beginning to look like an appealing alternative.

What is Lemon8?

The app is described as mix of Instagram and Pinterest. Creators on the platform can post photo collages, which can be used to share experiences or teach skills.

Content is displayed on a For You Page, that resembles the TikTok hub of the same name.

The rollout may prove moot, though, if the US government decides to ban all apps tied to ByteDance and the CCP.

Could Lemon8 become a new platform for marketers to consider? Given the reach and influence of TikTok, that’s definitely a possibility, and it’ll be interesting to see how the app grows in the coming months – if it avoids restrictions.

(2/5) Concerns for Meta amidst new EU advertising laws

With a new wave of EU data privacy laws kicking in, Meta’s developing a new set of options for EU users that would enable them to opt our of personalized ads, while the company is also looking at banning political ads in Europe entirely .

Restricting ad targeting:

Users who wish to opt out of personalized ad targeting can now do so by submitting an online form objecting to Meta’s use of their in-app activity for ads.

This would enable Meta to remain in line with the new EU regulations around personalized ad targeting, something it has fallen foul of in the past.

Ban on political ads:

The EU’s evolving ad rules mean that Meta may have to ban political ads entirely. Meta’s concerns are that the are rules are unclear (full transparency on who and how each campaign is funded), making it difficult for the company to comply with.

This would have significant implications for political operators in the region. If the laws go unchanged, Meta’s broader ecosystem in the EU could be at risk, at a time when the company needs to maintain it.

(3/5) The latest on TikTok's ban threat

TikTok has gone on the offensive, publishing accounts of how the platform has helped US businesses, and the economy more broadly. TikTok has also met with key ad partners to provide them with explainers and notes in order to dispel conference about its potential Lins to the CCP.

TikTok has amplified a range of stories of how the platform has helped regular American turn their hobbies into businesses through the app. CEO Shou Zi Chew has also posted videos to the main TikTok Chanel, calling for users to help in lobbying local representatives to save the app.

With these measures in mind, a TikTok ban is likely very close. The platform has resorted to desperate measures in order to sway opinions about the app.

It's worth noting that TikTok is also on the ropes in the EU too.

(4/5) Influencer marketing evolution - all you need to know

The influencer marketing space is predicted to grown to a net worth of $21.1 billion this year.

What is the current state of the industry, and what are the trends that influencer marketers need to be keeping a close eye on going forward?

Check out our latest blog ‘Influencer marketing in 2023 - what brands can learn from its evolution so far’ to find out how the space has grown, and how you can keep ahead of the curve.

(5/5) TikTok Vs. YouTube Digital Event

We're hosting a TikTok vs YouTube themed digital event! Here's what you can expect:

Two Goats will go head to head to argue the case for TikTok and YouTube Shorts.

• What are the key differences, opportunities and challenges?
• Which content formats work best?
• How are influencers and brands using them?

AND if you had 100K to spend on just one... which should it be?

Sign up here ?? https://www.goatagencyevents.com/tiktok-vs-youtube-shorts/

...

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