ByteDance has spent more than $7 million this year to block TikTok ban
ByteDance reportedly spent $2.68 million on lobbying U.S. officials, while TikTok spent more than $4.5 million on advertising.
ByteDance and TikTok have spent more than seven million dollars this year to fight against the US legislation banning the application.
It is reported that ByteDance has invested 2.68 million dollars in lobbying US officials, while TikTok has invested more than 4.5 million dollars in advertising. In addition, ByteDance also pays external consultants to lobby. At present, both the House of Representatives and the Senate have passed relevant bills.
Costs and Activities
According to the latest report, in the first three months of this year, ByteDance spent about 2.68 million dollars on lobbying for Congress and federal officials. TikTok spent over $4.5 million on television advertising to oppose legislation that may ban the application.
A TikTok spokesperson stated that these expenses are aimed at making policy makers aware of the potential impact of these legislation on its 170 million users in the United States.
Legislation and Action
Recent reports indicate that TikTok officials lobbied Congress and the Executive Office of the President of the United States in the previous quarter.
The House of Representatives passed the latest bill related to TikTok on Saturday. If it becomes a law, it will give ByteDance about nine months to sell social media applications, otherwise the software will be banned in the United States. The Senate voted on the TikTok bill yesterday and passed it.
External lobbying and expenses
In addition to internal lobbying expenses, ByteDance also paid additional money to external consultants. David Urban, a senior lobbyist, received $80,000 of ByteDance payment in the last quarter to try to influence the bill against the technology company in March. TikTok has spent over $400,000 on external lobbying companies in Washington since January 1st.
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