Social media shares fall on US Supreme Court's ruling against TikTok

• January 17, 2025

** Shares of Instagram-owner Meta Platforms META and Snapchat-parent Snap SNAP fall between 0.4% and 3.3%

** Supreme Court upheld law banning TikTok in U.S. on national security grounds if Chinese parent co ByteDance does not sell the short-video app by Sunday

** Judges unanimously ruled that the law did not violate First Amendment

** TikTok plans to shut its app for U.S. users from Sunday, sources familiar with the matter said on Wednesday

** Ban on TikTok would push more users — nearly half of all Americans — and advertisers to Meta's Instagram, Facebook, Snapchat and YouTube, analysts say

** If ban goes through, $11 bln of annual U.S. ad investment will be up for grabs, marketing group WARC Media says

** Ban could be short-lived if ByteDance decides to sell or Trump manages to keep TikTok afloat, eMarketer says

** Even if Trump chooses to delay or not enforce the ban, users, brands and creators may continue moving away from the app while its future remains in limbo, eMarketer adds