FILE PHOTO: A TikTok logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File PhotoShort-form video took center stage at tech and social media companies' annual presentations to advertisers, as platforms like Snap and Meta look to capitalize on TikTok's political uncertainty in the U.S. to take ad dollars from their rival.
TikTok is expected to generate $8.66 billion in U.S. ad revenue this year according to an estimate from research firm Emarketer. While it is a fraction of the size of Google and Meta, TikTok kicked off the short-form video craze and prompted rivals to build similar features. "We're having very productive conversations about how Snapchat can help, because there is a lot of noise at the moment," said Patrick Harris, Snap's president of Americas and partnerships."But we have our heads down and we're making sure we're a dependable and viable platform."
Facebook and Instagram owner Meta focused its NewFront on Reels, its TikTok competitor that now accounts for half of the time users spend on Instagram.
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