Do you hear that? That is the sound of TikTok gunning for Spotify’s throne.
A trademark submitting exhibits that TikTok’s mother or father firm utilized for “TikTok Music” — an indication the social media large could possibly be gearing as much as compete with Apple Music and Spotify.
Talking of Spotify… The corporate’s short-lived Automotive Factor is formally lifeless, however you’ll be able to nonetheless purchase one at a steep low cost.
I am Jordan Parker Erb. Let’s get to the good things.
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1. TikTok is coming for Spotify and Apple Music. ByteDance, TikTok’s mother or father firm, filed to trademark a streaming service known as “TikTok Music,” which may characteristic an app for customers to buy, play, share, and obtain music.
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TikTok is already a hub for discovering new music, usually propelling songs into the mainstream and to the tops of charts like Billboard 100 and Spotify Viral 50.
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Now, the corporate seems to be inching nearer to launching a standalone music streaming service of its personal — ByteDance submitted its “TikTok Music” trademark within the US on Could 9.
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TikTok is already a serious rival to social media corporations like Fb and Instagram, and this transfer may place it in direct competitors with corporations like Spotify and Apple Music.
What we find out about TikTok’s music-streaming ambitions.
In different information:
2. Spotify has stopped producing its Automotive Factor. In its quarterly earnings report, Spotify introduced it’d not be making the dashboard accent, which was meant to assist navigate the streaming service out of your automotive. Contained in the Automotive Factor’s downfall.
3. Staff are defying orders to return to the workplace — and getting away with it. A nationwide survey exhibits that greater than half of staff who’ve been ordered again to the workplace full-time are refusing to conform. Why staff are refusing to acquiesce, with out repercussions.
4. Meta reported its first-ever year-over-year decline in quarterly income. Amid elevated competitors from TikTok and a slowdown in advert spending, the corporate posted the primary income decline in its historical past. Mark Zuckerberg additionally stated Fb will steadily cut back the variety of staff it hires and shrink some groups over the subsequent 12 months.
5. Google is delaying its plan to kill off third-party monitoring cookies in Chrome. The corporate is pushing again its deadline for killing off monitoring cookies till not less than 2024, giving advertisers and publishers extra time to check cookieless options. The whole lot we all know to date.
6. Hulu is altering its coverage to permit political advertisements. Dealing with backlash from Democrats over its refusal to point out advertisements about gun security and abortion, the streamer will now settle for advertisements from a “vast spectrum of coverage positions.” Get the complete rundown right here.
7. An Amazon warehouse builder with ties to a polygamous cult is below investigation. Oregon state is investigating a warehouse builder linked to the Fundamentalist Church of Jesus Christ of Latter-Day Saints. The investigation facilities round allegations of kid labor and wage theft violations. What we all know concerning the investigation.
8. Conflict of the Tech Titans. Mark Zuckerberg instructed workers Meta is in “deep, philosophical competitors” with Apple to construct the metaverse. However he is not the one one noticing a rivalry. Insider’s Lara O’Reilly writes that Apple CEO Tim Prepare dinner has been taking photographs at Zuckerberg for years — and it is working.
Odds and ends:
9. Evaluating Rivian’s electrical pickup and SUV. Insider’s transportation reporter tried out every of the electrical autos on-road and off, and checked out all of their fascinating options. See how the startup’s first two fashions stack up.
10. Uber passengers cannot work out how one can get into Teslas. As a part of Uber’s new service, Consolation Electrical, passengers can request a Tesla or different premium EV — however the firm is having to ship directions on how one can open Teslas’ doorways. Extra on that right here.
What we’re watching right now:
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Apple, Amazon, Roku, and others are reporting earnings right now. Sustain with earnings right here.
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Lollapalooza music pageant kicks off right now in Chicago.
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Curated by Jordan Parker Erb in New York. (Suggestions or ideas? E mail [email protected] or tweet @jordanparkererb.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.
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