šŸ—ļø TikTok's Mic Drop

READ TIME 2.2 minsāš”

Hello, Marketers.

This is your mid-week edition of The Keyword, including:

  • TikTokā€˜s Social Music Streaming plan

  • Todayā€™s Marketing headlines from Meta, Netflix & Shopify

Letā€™s jump in šŸŖ‚

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FEATURE

TikTok gets into ā€œSocialā€ Music Streaming

TikTokā€™s got some big ambitions.

On Monday we reported that TikTok Music launched in Brazil and Indonesia. Now you can add Australia, Mexico & Singapore to that list.

Plus, TikTok just announced a multi-year deal with Warner Music Group. That gives TikTok & TikTok Music the license to the catalog of the music giant.

Hereā€™s what else we know so far about TikTok Music

  1. TikTok Music is a standalone app, separate from TikTok

  2. Like Spotify & Apple Music, TikTok Music comes with a paid monthly subscription

  3. TikTok Music wants to separate itself as the ā€œsocialā€ music streaming service. Enabling users to connect, comment and collaborate on playlists.

Plus according to Tech Crunch, it will have features like:

  • Personalized music recommendations

  • The ability to play full versions of viral TikTok songs

  • Shazam-style music identification

  • Access to song lyrics

  • Offline listening

Why it matters

TikTok will have taken notes on how Threads hit the ground running by integrating a new product into an existing platform. But with competitors like Apple & Spotify, it wonā€™t be easy.

TikTok Musicā€™s social features could be what differentiates it and gives them a shot. With Music & eCommerce, TikTokā€™s plans are clearly well beyond short-form video.

MORE HEADLINES

Netflix has removed its 'Basic' subscription tier in the UK and US, replacing it with 'Standard with Ads'. The change is a win-win for Netflix which will either boost its advertising solution for brands with more reach. Or increase subscribers at the ad-free tier priced a $15.99 or Ā£10.99. (CordbustersĀ ā†—ļø)

Shopify is launching an AI assistant for merchants. CEO, Tobi Lutke, described how the ā€˜Sidekickā€™ product can analyze sales performance, manage the store and create images (TwitterĀ ā†—ļø)

Meta has released LLaMA 2, its own version of GPT and Bard. Metaā€™s updated AI model is open-source and ā€œfree for research and commercial use.ā€ Threads could provide a large dataset of text that LLaMA 2 could use for training. (MetaĀ ā†—ļø)

Facebook puts more emphasis on video again with a redesign. TheĀ ā€œWatchā€ tab has been switched to ā€œVideoā€, which will now unify all its video experiences (Reels, Live & long-form) in one place. (MetaĀ ā†—ļø)

Norway has temporarily banned Meta from running behavioral advertising on Facebook and InstagramĀ ā€” unless it obtains usersā€™ consent to the processing. If Meta does not comply, it will face fines of up to $100,000 daily. (Tech Crunch ā†—ļø)

šŸ‘‹Ā Enjoy the rest of the week

Kole