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- TikTok’s U.S user growth is stagnating due to rising competition from Instagram Reels, bad reception of its bet on e-commerce and expiry of its music deal with Universal, the Wall Street Journal reported, citing people familiar with the matter.
- According the the said people, TikTok is still gaining users but the number of users quitting has risen to a point where its user growth has stagnated.
- Last month, Universal moved many of its artists’ promotional campaigns from TikTok to Instagram after it couldn’t agree on how much to pay artists.
https://www.wsj.com/tech/tiktoks-american-growth-is-already-stalling-980aa276