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TikTok has become a go-to platform for music fans to discover new songs. Its users are also more likely than the average listener to go to concerts in person and pay for music streaming apps, according to a new report TikTok commissioned from entertainment-analytics firm Luminate.Throughout the report, which TikTok funded, the authors emphasize areas where the company is boosting revenue for it partners in the music industry, many of whom are looking for new ways to extract value from the app. T…
2 months ago
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Recurrent Ventures, a private-equity-backed digital media company, is letting go of staff across several editorial brands, a company spokesperson confirmed to Insider.The company operates publications that cover topics like science, outdoor living, and automobiles, including Popular Science, Field & Stream, The Drive, and Dwell.The layoffs come just a few weeks after the company switched out its CEO, removing Alex Vargas as the company’s top executive and elevating cofounder Andrew Perlman to th…
2 months ago
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Can you buy an Apple Watch Ultra on TikTok for $34.88?That’s the incredible offer TikTok creator Austin Tyler teased to his millions of followers in a video viewed by Insider in late October.“Just got my new Apple Watch Ultra, but instead of paying $800, you guys know I had to get it from the TikTok Shop for that deal, man,” he said in the video, which has since been taken down.Tyler linked his post to a $34.88 smartwatch available on TikTok Shop from a merchant called MoonMates, which did not r…
2 months ago
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TikTok has started shilling products for sale using videos that have nothing to do with shopping, as it continues its charge into e-commerce.The company is using artificial intelligence to scan videos, identify items, and encourage users to buy similar products through its e-commerce marketplace, TikTok Shop. While TikTok has previously allowed creators to tag products in videos as part of its affiliate program, this new feature currently occurs without notifying the creator — and without the pr…
3 months ago
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Influencers are great at selling products, but they aren’t a business on their own.That’s the hard lesson esports organization FaZe Clan learned in recent months as its revenue dropped 30% in the first half of 2023 compared to the same period in 2022, per company filings. On Friday, it announced plans to sell itself to the gaming, esports, and marketing company GameSquare for a mere fraction of the $725 million FaZe was valued at when it went public a little over a year ago.While esports as a ca…
3 months ago
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TikTok is aggressively pushing its new e-commerce platform Shop. The company has been flooding users’ “For You” feeds with items for sale, offering steep discounts to first-time buyers.Sometimes the products are standard fare, such as an Anker phone charger or a pair of wireless headphones from Newegg.Other times, they’re pickle-jar sweatshirts.This summer, the app became infatuated with a set of gray crewnecks adorned with jars from brands like Grillo’s, McClure’s, Mt. Olive, and Claussen. Hash…
3 months ago
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Earlier this summer, TikTok entered into a frenzy over pickle sweatshirts.Suddenly, the app was awash with videos of users wearing gray crewnecks decked with jars from pickle brands like McClure’s, B&G Kosher Dill, Grillo’s, and Claussen.“I’m not a pickle lover but I AM a lover of the shirt,” one user commented on a video.Many of the posts, which collectively have driven tens of millions of views, included links for viewers to buy the garment on TikTok Shop, the app’s new e-commerce marketplace.…
3 months ago
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TikTok is tapping merchants to help push Black Friday and Cyber Monday sales via a series of seller competitions and other offers, per a campaign brief and other documentation viewed by Insider.The company plans to support a series of “key livestreams” hosted by TikTok Shop sellers between November 14 and 27 that it will boost through marketing and other promotions such as being featured on its event landing page.To participate, a seller must have the potential to generate at least $2,100 in sal…
4 months ago
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TikTok ran an advertisement featuring an AI-generated deepfake version of MrBeast claiming to give out iPhone 15s for $2 as part of a 10,000 phone giveaway.The sponsored video, which Insider viewed on the app on Monday, looked official as it included MrBeast’s logo and a blue check mark next to his name. But to internet-savvy users, the fingerprints of AI manipulation were clear. The YouTuber’s voice sounded distorted and his mouth movements appeared uncanny.“Only boomers would fall for this shi…
4 months ago
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TikTok is in an all-out blitz to make its e-commerce marketplace Shop take off. But as it races to drive up sales, it’s letting prohibited products slip through the cracks.The Shop marketplace in the US is riddled with goods that TikTok has banned, from maternity vitamins to hemp-derived Delta-9 THC Syrup, a butt plug, parasite cleanses, and weight-gain products, per an Insider review of the marketplace.TikTok Shop has over 200,000 sellers, according to the company, which has been a challenge as…
4 months ago
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The age of social shopping is here. Or at least, the top social platforms hope it is.YouTube has introduced a variety of commerce features in recent months, making shopping a centerpiece of its VidCon presentation in June. TikTok rolled out its dedicated shopping product to US users earlier this month after testing the feature for nearly a year. And Pinterest is similarly making social commerce a top focus.The aim for many of these companies is to replicate the success of social shopping in Asia…
4 months ago
