TikTok prohibits financial services and products branded content
Social media platform TikTok has updated its branded content policy to prohibit the promotion of financial services and products.
The ban only includes branded content, it does not affect TikTok’s ad policies.
TikTok’s logo
According to TikTok its ad policies have not changed. Advertisers in the financial sector are a “welcome part” of the TikTok community and its age targeting allows TikTok for Business to support “a range of financial clients” ensuring that campaigns reach the audience that they are intended for.
Ad policies also ensure that ads comply with applicable laws, regulations, licensing obligations, and industry requirements.
Videos on cryptocurrency, which is included in the ban, are popular on the platform, with videos with the hasthtag cryptocurrency currently at a combined 1.6 billion views.
TikTok’s branded content policy, which was rolled out in May, states that the industries prohibited are: “Designed to ensure a safe and positive environment for our users.”
The ban includes but is not limited to: “Lending and management of money assets, loans and credit cards, buy now pay later (BNPL) services, trading platforms, cryptocurrency, foreign exchange, debit and pre-payment cards, forex trading, commemorative coins, pyramid schemes (including non-financial services), investment services, credit repair services, bail bonds, debt assistance programmes, get rich quick schemes, debt consolidation services and penny auctions.”
Branded content on TikTok is encouraged to be labelled as branded content using the Branded Content Toggle. As of writing, the Branded Content Toggle is in testing with creators that have 10K followers and above in some markets.
In Australia, several influencers’ posts have been found to be in breach of AANA’s distinguishable advertising rules, which requires posts on social media to be clearly labelled as sponsored. None of the posts found to be in breach so far have been on TikTok.
Other industries which are globally prohibited from being promoted as branded content on TikTok are: alcohol, cigarettes and tobacco products, contraceptive products, dating and live video applications or services, drug-related products and services, weapons, food supplements and vitamins, age-rated films, TV shows and games, gambling, sexual products and services, political content, products and services that enable dishonest behaviour, animals, pharmaceuticals, healthcare, and medicine products, and professional services.
TikTok recently rolled out the ability for all users to post three-minute videos.
