South Korean beauty group AmorePacific has launched two key brands on Amazon’s Premium Beauty store in the US as it looks to build its online presence. The beauty firm has introduced the AmorePacific and Mamonde brands on Amazon, including skincare and makeup.
AmorePacific’s green tea skincare essentials – the Treatment Enzyme Peeling Cleansing Powder, Vintage Single Extract Essence, and Time Response Skin Reserve Creme.<
“As the leader in Korean beauty, we are thrilled to collaborate and bring Korea’s best known, performance-driven brands to Amazon customers,” said Brian Lee, head of business development at AmorePacific US. “We strive for our portfolio of brands to continue significant growth in the digital space as more and more US customers pursue the convenience of online shopping.”
The skincare and makeup range launched on Amazon include the AmorePacific’s Vintage Single Extract Essence and Mamonde’s Petal Spa Oil to Foam Cleanser. “AmorePacific’s brands cater to US customers’ continued enthusiasm for premium skincare with natural ingredients, as well as their latest interest in beauty routines as a form of self-care,” the company said in a statement.
A five-fold surge in allowances primarily focused on coronavirus-linked risks drove net profits at DBS to tumble 26 percent in the first half.
DBS Group posted a net profit of S$2.41 billion ($1.76 billion) in the first half of 2020, a 26 percent year-on-year drop, according to a statement. This was driven largely by a five-fold increase of total allowances which reached S$1.94 billion of which S$1.26 billion has been «conservatively set aside to fortify the balance sheet against risks arising» from the ongoing pandemic.
Singapore bank’s ex-allowance profits increased 12 percent and reached a record S$4.71 billion driven in part by a 7 percent income rise to S$7.75 billion.
Our solid balance sheet was further fortified by a significant increase in allowance reserves, strong liquidity inflows and healthy earnings, said DBS CEO Piyush Gupta. «Notwithstanding the uncertainties, we are in a good position to continue supporting customers and the community through the difficult months ahead of us.»
Short-form video app TikTok has 41 days to complete a deal with Microsoft or any other U.S. company or else President Donald Trump has said that he will ban the app in the U.S. That’s because TikTok’s parent company, ByteDance, is based in China and a law in the country allows the communist government to order tech firms to collect intelligence from consumers and companies in the states and send it to Beijing. This is the same reason why outfits like Huawei and ZTE are considered national security threats in the states.
NPR reported that twenty separate lawsuits accusing TikTok of capturing information about users’ facial characteristics, locations, and close contacts were merged into one class-action suit. The plaintiffs are minors who use the app and the suit states that the personal data collected by TikTok is sent to servers in China. ByteDance says that the servers it uses for TikTok are located in the U.S. with backups in Singapore. Experts for the plaintiffs said in the filing that personal data collected by TikTok is “under the control of third-parties who cooperate with the Chinese government. Such information reveals TikTok users’ precise physical location, including possibly indoor locations within buildings, and TikTok users’ apps that possibly reveal mental or physical health, religious views, political views, and sexual orientation.”
With talk of a possible ban, many of the 100 million TikTok users in the U.S. have been looking for a new app to record their lip-syncing, dancing, singing, comedy bits, and protests. One app called Clash launched months early so that it could sign up TikTok members worried about losing the app to a ban. Instagram announced the launch of its short-form video feature called Reels. Instagram says, “Reels invites you to create fun videos to share with your friends or anyone on Instagram. Record and edit 15-second multi-clip videos with audio, effects, and new creative tools. You can share reels with your followers on Feed, and, if you have a public account, make them available to the wider Instagram community through a new space in Explore. Reels in Explore offers anyone the chance to become a creator on Instagram and reach new audiences on a global stage.”
To use Reels, open Instagram and touch the camera icon in the upper left of the screen. On the bottom of the page, tap the Reels tab to get started. On the left side of the screen, you’ll see icons for Audio, Speed, Effects, and Timer. With the Audio setting, you can search for a song from Instagram’s music library or use your own by creating a reel with original music. If you share an original song on Reels, you will get credit for it. And your musical creation can be used by others by selecting “Use Audio” from your Reel.
With AR Effects you can pick one from Instagram’s effect gallery which also includes effects made by creators all over the planet. This will allow you to create multiple-clips with different effects. If you are recording a Reel, you can record it hands-free by tapping on Timer and Countdown. A 3-2-1 countdown will alert you when your device has started recording.
Perhaps one of the most important features on Reels is Align. This allows you to line up objects from your previous clips to help you record seamless transitions for outfit changes and more. And Speed lets you speed up audio and video. Reels can be recorded one at a time or all at once. Instagram says, “Record the first clip by pressing and holding the capture button. You’ll see a progress indicator at the top of the screen as you record. Stop recording to end each clip.”
If you have a public account, your Reel can be shared in Explore or over your feed. If you use a private account, only your followers will be able to view your content from your feed. Original audio can’t be shared with this setting and others cannot share your Reels with others who don’t follow you. And a Reel can also be shared like a Story which means that it will disappear after 24 hours.
“Reels in Explore showcases the best of trending culture on Instagram. Discover an entertaining selection of reels made by anyone on Instagram, in a vertical feed customized for you. If you love a Reel, you can easily like, comment or share it with your friends. You’ll also see some Reels with a “Featured” label. If your Reel is featured in Explore, you’ll receive a notification. Featured Reels are a selection of public Reels chosen by Instagram to help you discover original content we hope will entertain and inspire you.
Reels gives people new ways to express themselves, discover more of what they love on Instagram, and help anyone with the ambition of becoming a creator take center stage.”
BMW expects to make a profit this year if demand continues to recover, despite posting a record loss for its car division in the second quarter after sales slumped 25% because of coronavirus lockdowns, it said on Wednesday.
The German manufacturer of BMWs, Minis, and Rolls-Royces said sales had started to recover during the latest three-month period, including a 17% jump in deliveries in China, but the rebound would not fully make up for sales lost to COVID-19.
As a result of the sales slide, and higher costs for developing low-emission cars, BMW posted a pretax loss of 498 million euros, its first in over 11 years, and an operating loss of 666 million euros ($790 million) for the quarter.
Shares in BMW fell 3% following the results, with some analysts saying they had not expected such a big loss in earnings before interest and taxes (EBIT).
BMW, which makes Minis and Rolls-Royces said sales had started to recover during the latest three-month period, including a 17% jump in deliveries in China.
“What matters now is how robust this upward trend is and when individual markets will follow suit,” said Chief Executive Oliver Zipse, adding that its overall cars sales in July were higher than last year.
BMW said, however, that its outlook did not factor in the potential impact of the second wave of COVID-19 infections, nor the prospect of a more sustained or deeper recession than expected in its key markets.
Zipse said on a call that developments in the United States, which has the highest number of COVID-19 cases and deaths worldwide, were “extremely worrying”.
Sales in the United States made up 12.6% of deliveries in the first half of 2020, down from 15.2% in 2020. Overall, BMW said it expected global demand for luxury cars to fall by a fifth this year.
The COVID-19 pandemic has already hit carmakers such as Fiat Chrysler, Ford, and Daimler particularly hard at the time when the auto industry is ramping up spending to clean up their combustion engines as well as developing low-emission technologies to conform with stringent European anti-pollution rules.
Gold prices in Vietnam climbed to a new peak, as global rates hit an all-time high. State-owned Saigon Jewelry Company sold its popular SJC gold at VND60.7 million ($2,628) per tael of 37.5 grams (1.2 ounces) on Thursday morning, up 2.88 percent from Wednesday.
Major jewelry company DOJI sold at VND60.3 million ($2,611). The State Bank of Vietnam said it has the resources to stabilize the gold market and would closely monitor the price movements.
Global rates edged down to $2,041 on Thursday after reaching an all-time high of $2,055 on Wednesday. Analysts said the rapid rise in Covid-19 cases has dented hopes of a swift economic rebound, driving inflows into safe-haven assets such as gold, which has gained more than 34 percent this year.
Vietnam’s gold bar and coin demand in the first quarter fell 8 percent year-on-year to 12.3 tonnes, according to the World Gold Council.
Singapore’s competition regulator has effectively cleared the activities of food-delivery platforms and dark kitchens in the city-state after a 10-month probe.
The investigation by the Competition and Consumer Commission of Singapore (CCCS) began on September 30 last year after concerns were raised that food-delivery services were refusing to work with dark kitchens operated by rivals. (Dark, or virtual, kitchens are where meals are prepared for delivery or takeaway with no seating for customers.)
CCCS says that conduct has since ceased and while it will continue to monitor online food delivery and virtual kitchens, it has no cause for concern at this time.
“CCCS notes that competition in the virtual-kitchen sector remains dynamic, with players entering and competing for market share,” the organization said in a statement posted online.
Singapore’s online food-delivery industry is highly competitive with three main operators battling for market share: Deliveroo, Foodpanda and GrabFood.
Each has started providing virtual kitchens as an additional service to food & beverage operators. Meanwhile, Smart City Kitchens (SCK) competes with them to offer virtual kitchens to F&B companies but does not operate any online food-delivery service itself, leaving it reliant on Deliveroo, FoodPanda, and GrabFood to deliver the meals.
The CCCS launched an investigation into the sector after reports the delivery services were refusing to work with companies using SCK’s virtual kitchens.
“Following CCCS’s investigation, GrabFood and Deliveroo have started supplying their online food delivery services to F&B operators in SCK’s virtual kitchens which already have access to FoodPanda’s online food delivery service,” said the CCCS. “As a result, F&B operators using SCK’s virtual kitchens now have the choice of using multiple online food delivery providers to expand their consumer reach.
“There is greater competition in the virtual kitchen sector, and consumers are also able to enjoy a greater choice of food ordered online. With greater competition, businesses are incentivized to innovate to cater more efficiently to the evolving needs and preferences of their customers.”
Ralph Lauren Corp said on Tuesday its quarterly revenue plunged by nearly US$1 billion, as it struggled with coronavirus-led store closures and a slowdown in demand for luxury goods across the world.
The big drop in revenue and a larger-than-expected loss pushed shares of the New York-based fashion house down nearly 7 percent in trading before the bell.
The company’s revenue slumped 77 percent in North America, with analysts saying demand for high-end handbags, apparel and accessories is not expected to rebound quickly as the global economy enters a recession.
Ralph Lauren is more exposed to the health crisis than other apparel companies as its jackets, coats and dresses are designed for social or formal occasions, said Neil Saunders, managing director of research firm GlobalData Retail.
“While some customers have been prepared to pay premium dollars for luxury apparel, many middle-income shoppers have de-prioritized their spending on clothing in favor of spending on the home – an area where Ralph Lauren does play, but not nearly as strong as it should,” Saunders said.
Ralph Lauren’s net revenue fell 66 percent to $487.5 million, missing analysts’ average estimate of $615 million, according to IBES data from Refinitiv.
Sales at European luxury goods giants LVMH , Kering and Hermes fell between 38 percent and 44 percent – much slower than those posted by the company.
Ralph Lauren also reported a mere 3-per-cent rise in North American online sales, a far cry from triple-digit sales increases recorded by a number of US retailers.
The company reported a net loss of $127.7 million in the quarter to June 27, compared with a profit of $117.1 million, or $1.47 per share, a year earlier.
All Cebu Pacific and Cebgo DOMESTIC flights to/from Metro Manila are canceled from August 4 to 18, 2020, in line with the announcement of Modified Enhanced Community Quarantine (MECQ) over Metro Manila and adjacent provinces, and continued community quarantine over the rest of the country.
CEB will continue to operate the following domestic flights:
· Clark-Cebu-Clark, every Tuesday
· Cebu-Davao-Cebu, every Tuesday
CEB also intends to operate the following international flights:
Frequency
5J 18
Manila-Dubai
Every Sunday
5J 19
Dubai-Manila
Every Monday
5J 194
Manila-Seoul (Incheon)
Every Thursday
5J 5059
Tokyo (Narita)-Manila
Every Wednesday / Saturday
(Starting Aug 8)
5J 817
Osaka-Manila
Every Friday (Starting Aug 6)
5J 807
Manila-Singapore
Every Thursday / Saturday
(Starting Aug 6)
5J 808
Singapore-Manila
Every Friday/ Sunday
(Starting Aug 7)
Flights between Manila and Taipei, along with all other Cebu Pacific international flights, are also canceled during this time.
CEB will also continue to mount all-cargo flights to ensure the transport of essential goods across the country. We will also work with the government at the national and local levels to assist stranded passengers.
Passengers on canceled flights have the following options:
1. Unlimited rebooking
Rebook to any travel date within three (3) months from original flight, with change (rebooking) fees and fare difference waived. If travel is after three (3) months, change fees are waived, but minimal fare difference may apply.
2. Two-year Travel Fund
Place the full cost of the ticket in a Travel Fund, or a virtual wallet with Cebu Pacific. Valid for two (2) years, the Travel Fund can be used to pay for flights up to a year out, or purchase add-ons (e.g. baggage allowance, seat selection, etc.)
3. Full refund
Passengers on canceled flights are entitled to a full refund. However, due to the unprecedented volume of requests for refunds, the process may take at least four (4) billing cycles.
Anyone of these options can be availed by managing bookings online via the Cebu Pacific website. Customers who booked through travel agencies or online booking sites must coordinate with them to manage their bookings or claim refunds.
This is a developing situation. We may adjust flights depending on government regulations. We will contact passengers through the email addresses and mobile numbers provided upon booking for any information regarding their flights. We shall also provide updates through our website and official social media accounts.
PAL
Philippine Airlines said all its domestic flights to and from Manila (MNL) from August 4 to 18, 2020 are also canceled.
PAL said domestic flights between Clark, Cebu, Davao and cities other than Manila are not affected and shall remain operational.
International flights to and from Manila shall continue to operate, subject to further guidelines from the authorities in line with quarantine capacity and related arrangements.
Domestic passengers of these canceled flights have options to rebook, refund or convert their ticket into a travel voucher.
PAL told its guests that they seek the understanding and full cooperation “as we make these necessary changes to comply with the government directives and above all to support public safety.”
The Disney+ streaming service launched on November 12th and after just two weeks we called it “a real threat to Netflix.” While that was met by more than a few skeptics among our loyal readers saying that we jumped the gun, the streamer has gone from strength to strength. According to Today, the House of Mouse released its fiscal third-quarter earnings and announced that as of Monday, Disney+ had 60.5 million paid subscribers. The company’s goal of reaching 60 million to 90 million paid subscribers by 2024 was achieved four years earlier than expected thanks to the pandemic.
With many families locked inside because of the coronavirus outbreak, Disney+ provided entertainment featuring characters well-loved by parents and their children. And this afternoon, the entertainment firm announced that with movie theaters still closed, the live-action version of Mulan will launch exclusively on Disney+. The film will debut on the site beginning September 4th. However, it will still cost subscribers an additional $29.99 to watch the film on the platform.
And as if we needed another streaming service in the world, Disney also announced an upcoming new “general entertainment” streamer that will debut next year; it will use the Star brand that Disney acquired from Fox. The streaming content offered by this streamer will include titles from companies already owned by Disney such as ABC Studios, Fox Television, FX, Freeform, 20th Century Studios, and Searchlight. In many markets, the new service will be integrated with Disney+.
While the most up-to-date numbers show 60.5 million paid subscribers for Disney+, during the fiscal third quarter that figure was 57.5 million while Hulu had 35.5 subscribers. Add in the 8.5 million ESPN+ paid members during the same three months and overall Disney had over 100 million subscribers paying for its streaming services.
The real test for Disney will come on Disney+’s one-year anniversary. That’s because the initial batch of Verizon’s unlimited subscribers, who receive a free one-year Disney+ subscription, will have to decide whether or not they want to lay out their own money to continue receiving the service. Unlike most things, Disney, Disney+ is actually very reasonably priced at $6.99 per month or $69.99 for a year. Each account can include seven different user-profiles and four can stream on different screens simultaneously.
While it is obvious that Disney+ includes Disney’s classic animation like Cinderella, the Lion King, and Beauty and the Beast, it also includes Pixar classics like all of the Toy Story films. If you grew up on Disney Channel shows like That’s So Raven, Even Stevens, Hannah Montana, and Lizzie McGuire, they are all on the app as well. And some shows that were broadcast on network television while produced by Disney, such as the very underrated Boy Meets World, make great binge-watching fare. Star Wars fans can view every film from the series and relive the moments when you first met characters like Luke, Darth Vader, R2D2, and Jar Jar Binks. Other Star Wars related titles can be streamed include Disney+’s first breakout hit The Mandalorian which introduced us to the adorable Baby Yoda.
Marvel fans can turn to Disney+ to watch the Avengers, Iron Man, and Black Panther films. And adventure junkies will surely find content to watch under the National Geographic heading on the app. While the service might not cater to all tastes as Netflix does, you shouldn’t have a problem discovering something to stream on Disney+.
Discussing the results of its streaming services during the quarter, Disney CEO Bob Chapek said, “Despite the ongoing challenges of the pandemic, we’ve continued to build on the incredible success of Disney+ as we grow our global direct-to-consumer business. The global reach of our full portfolio of direct-to-consumer services now exceeds an astounding 100 million paid subscriptions — a significant milestone and a reaffirmation of our DTC strategy, which we view as key to the future growth of our company.”
If you have an iPhone, iPad, or iPod touch, you can download Disney+ from the Apple App Store. Those with an Android device can do the same from the Google Play Store. And the app can be loaded on the web at www.disneyplus.com. But be careful. Watch Disney+ for too long and you might start feeling a little goofy.
Toyota Vietnam has called back 721 vehicles to fix a bolt issue that could stall operation. The recall, starting Monday, involves 183 Innovas and 538 Fortuners, manufactured between January 21 and May 11.
The affected vehicles were equipped with automatic transmissions, in which the steering wheel is connected to the torque converter by six bolts. Automaker Toyota Vietnam said due to errors in the assembly process, these bolts may not be tightened as usual and might come loose when the vehicle is operating.
Loose bolts create abnormal noise in the engine compartment when the driver applies the brake pedal, or when shifting gears. In special cases, the vehicle cannot move.
Car owners can take their vehicles to a Toyota dealership for tightening the bolts which would take between 20-30 minutes.
Last year, Toyota was the best-selling car brand in Vietnam with 78,795 units sold, followed by TC Motor with 69,916 Hyundai cars.
Vietnam’s retail industry continued to recover after the March lockdown to fight Covid-19, with a 4.3-per-cent increase year on year in July’s retail sales.
However, after being virus-free for more than three months, Vietnam is now facing the second wave of Covid-19 which originated in the coastal city of Danang. With a full lockdown in Da Nang and partial lockdown in Ho Chi Minh City and Hanoi, retail sales are expected to be impacted this month.
According to the General Statistics Office (SGO), retail sales dropped just 0.4 percent year on year over the first seven months of this year, reaching about US$121.7 billion.
The office said Vietnam’s retail sales have shown positive signs of economic recovery due to domestic consumption and tourism push in July. Last month, Vietnam retail sales rose 3.3 percent from June’s figures.
Sales of consumer goods reached $96.4 billion, increasing by 3.6 percent year on year. Growth sectors include home appliances and fresh-food products with 7.6 percent and 7.5 percent increases respectively. Meanwhile, F&B revenues fell 16.6 percent, generating $12.2 billion.
Hong Kong-based cosmetics & personal care chain SaSa has set up personal online stores for its beauty consultants to provide a new sales channel for the brand’s customer-facing staff in partnership with the e-commerce platform Boutir.
The solution uses the Boutir mobile app to allow customers to make purchases on the consultants’ personal storefronts, providing additional commissions for staff as well as a more flexible experience for consumers. The move is an opportunity for the brand to combine its strengths in in-person shopping with digital retail, helping SaSa expand its omnichannel sales approach.
“SaSa is committed to social commerce and is constantly developing new online sales channels,” said SaSa chairman and CEO Dr Simon Kwok. “The partnership with Boutir allows SaSa to transcend the spatial-temporal boundaries, use social media to engage and sell more with customers in Hong Kong SAR and leverage potential synergies between its online presence with the existing brick-and-mortar stores to provide a seamless online-to-offline shopping experience that is more flexible, accessible and intimate.”
SaSa has been building its digital strategies swiftly following the advent of the coronavirus pandemic, including the development of a WeChat mini program to target customers from the mainland who had previously visited physical outlets in Hong Kong or Macau. The personal service component made possible via the Boutir platform is expected to potentially outperform the brand’s traditional online sales in terms of house brand mix, gross margin and basket size.
Boutir founder Eric Ng said the partnership with SaSa would use the expertise of the chain’s professional beauty consultants to extend their customer service in brick-and-mortar stores onto the online platform. “It will also improve customer loyalty, broaden the customer base and increase the sales conversion rate.”
The platform is launching new products, which include a micro-investment solution, a third-party loan platform and a buy-now-pay-later service for purchases with e-commerce partners.
The finance arm of Singapore-based ride-hailing and payments firm Grab has rolled out a new strategy to expand its consumer services ecosystem and «empower individuals to grow their personal wealth, manage their finances and protect what they value,» the firm announced on Tuesday.
Thrive With Grab brings an expanded range of new lending, wealth, and insurance products, with which it hopes to tap into Southeast Asia’s vast mass market financial services opportunity.
By offering innovative micro-transaction-based financial services, convenient financial management tools and access to products from leading global financial institutions, we hope to unlock the tremendous potential in financial services in the region in ways that serve all Southeast Asians,» Reuben Lai, senior managing director, Grab Financial Group (GFG), said.
Grab will be pushing into retail wealth by focusing on accessible, convenient, and transparent investment products and solutions while broadening its wealth management offerings that feed into its goal of strengthening its open fintech ecosystem, Lai said at a media briefing ahead of the launch on Tuesday.
The company will also provide customers with opportunities to invest in products and solutions traditionally limited to affluent individuals and institutional investors, Lai said, adding that Grab will also launch a series of financial education programs to help users make more informed in financial decisions.
Following its acquisition of wealth management platform Bento earlier this year, Grab will roll out micro-investment solution AutoInvest in September, which allows users to invest as they spend with their everyday Grab transactions from S$1 ($0.73), and invest from their wallet balance to earn returns of about 1.8 percent per year, which can then be cashed out directly to their GrabPay wallets.
Lai also noted the growing demand for online consumer lending, citing research from Boston Consulting Group that shows that more than one-third of Southeast Asian consumers are willing to shift some banking activities, such as loans, too non-banking platforms.
To meet this demand, it is launching a third-party consumer loan platform, starting in Singapore, before expanding to Malaysia and other countries. Consumers will be able to apply for personal loans offered by bank partners directly within the Grab app.
GFG will also expand its buy-now-pay-later line of offerings by launching PayLater Instalments and «PayLater Postpaid» on select e-commerce sites in Singapore and Malaysia in October, and launch its first hospitalization insurance plan for consumers in Indonesia.
The company laid off 5 percent of its workforce in June, which founder and CEO Anthony Tan said would help it better face the challenges of a post-Covid economy. He also said the strategic roadmap for Grab Financial, which is a «long-term bet for the future,» remains unchanged.
Grab is also part of a consortium with Singtel that has applied for a digital banking license in Singapore.
Vietnam Airlines reported a loss of over VND4 trillion ($170 million) in the second quarter and cumulative first-half losses of over VND6.64 trillion ($286 million).
In its consolidated financial statement for the second quarter of 2020, the carrier reported revenues of just VND6 trillion ($258.6 million), a 68 percent fall from the previous quarter.
It blamed the decline on the Covid-19 pandemic, which had forced it to suspend all international flights and, during the social distancing period in early April, limit domestic flights.
Significantly cutting sales, financial and management costs did not enable the airline to remain in the black. Earlier this month its CEO, Duong Tri Thanh, estimated that its full-year revenues would drop by half from last year to just VND50 trillion ($2.16 billion), and the loss would be around VND13 trillion ($560.34 million).
The airline has asked the government for an urgent VND12 trillion ($517.24 million) bailout, claiming it would otherwise be in a very difficult situation by the end of August. It will hold its annual general meeting, which has been delayed twice due to the agenda, on August 10.
When Snapchat first crossed our consciousness in May of 2012, its claim to fame was self-deleting photo messages that would disappear after 10 seconds. Eventually, Snapchat invented the “Stories” feature that Instagram and other social media apps copied. Today, Snapchat is known for its AR Lenses which can turn you into a sunglasses-wearing motorcycle cop, a dog sticking out his long tongue, and more.
And now Snapchat is planning on going head-to-head against TikTok. The latter, with over 2 billion installs from the App Store and the Google Play Store, is one of the most popular apps in the U.S. as it allows users (mostly teens, pre-teens, and a smattering of adults) to create short-form videos of 15 and 60 seconds in length. Content includes lip-syncing, dancing, comedy bits and more. Snapchat announced today that it will be testing a new feature that will allow users to have their Snaps play with music in the background. Sound familiar?
This is the perfect time for Snapchat to explore adding TikTok-esque features to the app. President Donald Trump has made it clear that the U.S. will not allow companies with possible ties to the communist Chinese government to operate in the states, and while he is allowing Microsoft to negotiate with TikTok parent ByteDance (a company based in China) to acquire the app in the U.S. and several other countries, such a transaction comes with a pretty high price tag which means that there is no guarantee that it will get done. If a deal isn’t agreed to, TikTok could get banned in the states and its 800 million global active users (100 million in the U.S.) will be searching for an alternative to the app, something that we’re sure that Snapchat understands.
Snapchat parent SNAP has licensing deals with a number of music publishers including Warner Music. The music will be available for Snapchat users to add before recording a video, or afterward. When one of the new Snaps with music is shared, the person on the receiving end will swipe up to see album art, the title of the song being played, and the name of the artist. A “Play this song link” will send the user to Linkfire’s website or to the user’s preferred streaming music platform where the entire song can be played. That could be considered an improvement over what TikTok offers; tap the “sound” link on the latter app and you’ll see other clips that use the same song. Snapchat says that the new feature is designed for sharing music with your “real friends.”
“We’re always looking for new ways to give Snapchatters creative tools to express themselves,” said a SNAP spokesman. “Music is a new dimension they can add to their Snaps that helps capture feelings and moments they want to share with their real friends.”
While Snapchat seems to be overlooked in the messaging apps category, as of last quarter it counted 238 million daily active users worldwide. It also reaches more 13-to-24-year olds in the U.S. (90%) than Instagram, Facebook, and Messenger. Even more impressive, Snapchat says that it reaches more users in the U.S. than Twitter and TikTok combined.
A Snapchat spokesman said, “We’re constantly building on our relationships within the music industry, and making sure the entire music ecosystem — artists, labels, songwriters, publishers and streaming service — are seeing the value in our partnerships.” Snapchat plans on rolling out this feature in English-speaking markets starting this fall, although it is being tested starting today in New Zealand and Australia.
Meanwhile, Instagram is about to roll out its own short-form video feature called “Reels” which is making TikTok parent ByteDancer very unhappy. In a statement late Sunday, ByteDancer accused Instagram owner Facebook of “plagiarism.” The whole statement read, “ByteDance has always been committed to becoming a global company. During this process, we have faced all kinds of complex and unimaginable difficulties, including the tense international political environment, collision and conflict of different cultures and plagiarism and smears from competitor Facebook.”
