eComm News Round-Up | TikTok Expanding License Agreement with Warner Music Group, Major Threads Update for iOS & Shein and Temu's Fierce Battle | 21 July 23
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TikTok Expands Licensing Agreement with Warner Music Group to Boost Upstart Streaming Service
Warner Music Group and TikTok have formed a unique partnership, expanding licensing agreements to include TikTok Music, CapCut, and TikTok's Commercial Music Library, aiming to secure a more significant share of revenue from TikTok's upstart streaming service. The move comes as TikTok seeks support from record companies to expand its streaming service globally, with Warner Music Group leveraging its position to negotiate more favorable deals in return.
Major Threads Update for iOS Introduces Enhanced Visibility of New Followers
Meta's Threads receives its first significant iOS update, introducing a Follows tab to the activity feed, making it easier to see new followers and subscribe to unfollowed users for notifications. The update also includes post text translations, interface tweaks, and performance improvements, though some missing features remain, with Meta acknowledging the ongoing work to address various issues.
Meta Seeks New Patent for Voice ID Data Collection to Boost User Authentication and Info Matching
Meta files a patent for voice ID data collection, potentially using voiceprints for user authentication and personalized content delivery in its social-networking system. The patent raises concerns as it may enable the identification of multiple users speaking simultaneously and serve them customized content, including ads, based on their preferences and interactions in real life.
OnBuy Allocates £10 Million for Cashback Promotion, Aims to Compete with Industry Giants
OnBuy, the UK-based online marketplace, has become the world's first cashback marketplace, offering uncapped cashback on every product sold on its site, which can be immediately spent on OnBuy. With £10 million set aside for this new model, OnBuy aims to shake the online retail landscape and reward customer loyalty, providing a simple and convenient one-stop solution for shoppers.
Shein and Temu Engage in Fierce Battle for US Bargain Shoppers, Tensions Escalate
Temu has taken legal action against Shein in the United States, filing a lawsuit in Massachusetts federal court, alleging violations of antitrust laws, including attempts to monopolize suppliers and engaging in other illegal practices. The lawsuit is part of an ongoing contentious legal battle between the two fast fashion companies, with Shein previously suing Temu for allegedly mobilizing social media influencers to disparage Shein online.
Meta Announces Free Rival to ChatGPT in Their AI Offering
Meta has revealed plans to offer free access to their artificial intelligence technology, LLaMa 2, which competes with OpenAI's GPT-4 used in the ChatGPT app. The decision aims to provide researchers and companies with more AI tools for experimentation, as LLaMa 2 represents the second generation of Meta's large language model, trained on 40% more data than its predecessor.
That's it for this week's roundup, folks. Stay tuned for more exciting eComm news from Webtopia!
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