Is TikTok the next LinkedIn?
And, no, we don’t mean that learning the Renegade dance will get you your dream job… As Microsoft looks to buy TikTok, we wonder: Will TikTok go the way of LinkedIn?! (Microsoft doesn’t have a history of exactly innovating social platforms they acquire.) Meanwhile, Facebook partners with major U.S. labels so that music videos can be published on the platform, Instagram launches the much-anticipated Reels, and Google further expands its advertising transparency policy.
Microsoft Looks to Buy TikTok
Last week, President Trump shared his plan to effectively ban Chinese-owned TikTok from the U.S. Thus, TikTok is under pressure to sell their U.S. division, and a recent report says Microsoft is in negotiations to purchase the platform. TikTok continues to fight for the right to operate in the U.S., though and has hired lobbyists who are emphasizing the influence of their American CEO, employees, and investor power. Read more.
Facebook’s Battlefield with YouTube: Music Videos
Facebook announced a partnership with Sony Music, Universal Music Group, and Warner Music Group to allow their music videos to be published on Facebook. Strategically, the addition of Music Videos to the platform is a lucrative opportunity for ad revenue, as music videos are one of the most popular content types on YouTube. Read more.
Instagram Reels Makes Its Debut
This isn’t Facebook’s first rodeo in rolling out rival platforms’ features. Reels mimics TikTok and is the first Instagram product that will depend on Creator content rather than everyday users. The algorithm is distinct from the rest of the features on the platform because it will push the most popular videos to users rather than videos catered to users’ interests, similar to TikTok. Read more.
Google has expanded its ‘About This Ad’ capabilities, now showing users the name of the advertiser behind each ad they’re served. Initially, the expanded feature will be limited to display ads but will be available for all ads over the course of 2021. Another new tool still in its alpha-testing phase, Ads Transparency Spotlight, will offer user controls over ads they are served. Read more.