The Currency analytics
By Maheen Hernandez
European regulators just slammed TikTok with major demands. The European Commission said on February 7 that TikTok's design hooks users too much and the company better fix it…
The Commission's probe found TikTok deliberately builds features that keep people scrolling endlessly.
Under the Digital Services Act, TikTok could get hit with penalties up to 6% of global revenue. For a company TikTok's size, that's potentially billions of dollars.
TikTok's response seems pretty cautious so far. A company spokesperson said they're committed to making the platform "safer and more responsible" but didn't promise specific…
ByteDance is reportedly scrambling behind the scenes. Sources close to the company say legal experts are working overtime to assess the financial hit from EU demands.
And TikTok's European user base keeps growing.
Millions of people across Europe use the app daily, which makes the regulatory pressure even more intense.
European lawmakers are piling on too. On February 10, members of the European Parliament talked about TikTok's addictive design during a Brussels session.
TikTok executives will meet with European Commission representatives on February 15 to discuss potential solutions.
Consumer groups are backing the EU's tough stance. BEUC, the European Consumer Organisation, released a statement on February 8 urging TikTok to prioritize user welfare over…
TikTok's competitors are watching closely. Instagram and Snapchat are checking their own platforms for similar problems.
The regulatory scrutiny isn't just a European thing either. Governments worldwide are examining social media's impact on mental health.
This could lead to a global reevaluation of social media practices. The pressure is mounting on platforms to prioritize user wellbeing over engagement metrics.
The EU's demands are crystal clear - TikTok must redesign its platform to reduce addictive features or prepare for massive fines.
For now, all eyes are on TikTok's next moves. Regulators and competitors alike are watching closely as the company prepares its response.