Meta Platforms Inc. banned advertisements in the US from ByteDance Ltd., the former controlling owner of TikTok, intensifying the competition with the popular social video site.
\n\nOn Thursday, Meta began implementing a complete restriction on ads and paid marketing messages placed on its platforms by ByteDance, the Chinese company that remains in charge of key parts of TikTok in the US.
\n\nThe ban will take effect in the US, Canada, Egypt, Indonesia, Japan, Thailand and Vietnam, according to Meta, and also extend to third-party advertisers running campaigns that link to TikTok and other ByteDance properties in those countries.
\n\n“We don’t have to run ads from a competitor whose goal is to pull people off our apps,” Meta spokesperson Chris Sgro said in an emailed statement. “Declining promotional services to a competitor is a normal business practice across industries. We will continue to compete on product quality and user experience.”
\n\nTikTok and ByteDance didn’t immediately respond to requests for comment.
\n\nMeta and TikTok have competed neck-and-neck for years, even with a key imbalance in that rivalry: TikTok has been able to operate in Meta’s most important market, the US, while Meta has been unable to do so in TikTok’s most crucial…
Original source: https://www.cnbctv18.com/technology/
