Sources: ByteDance plans to expand its Resso music streaming service globally, starting with over a dozen markets excluding the US, and integrate it into TikTok (Wall Street Journal)

Bloomberg:
Sources: UMG, Sony, and Warner have been negotiating with ByteDance for a share of TikTok ad revenue and increased royalties before their contracts expire  —  TikTok has attracted more than 1 billion users with videos set to music.  Now the world’s largest record labels want the social media app to pay more for those songs.

Amanda Silberling / TechCrunch:
Tumblr introduces “community labels”, letting users tag posts about drug and alcohol addiction, violence, and sexual content; no content rules are changing  —  Tumblr announced a “community labels” feature this week that will make it easier for bloggers to filter out sensitive content that they may not want to see.

Washington Post:
Review of misinformation labels: Twitter and Facebook have done little to refute inaccurate election claims by at least 26 US midterms candidates since April  —  A Post review of hundreds of posts found many with misinformation but none with social media labels

Liza Lin / Wall Street Journal:
Sources: on Tuesday, China’s internet regulator told Tencent, ByteDance, and others to grow censorship teams, focus on protest content, and censor info on VPNs  —  Online regulators tell big tech companies to expand censorship of information on protests and take steps to curb the virtual private networks used to bypass online controls

Coco Feng / South China Morning Post:
Sources: ByteDance CFO told staff that it has no plans to go public; report: CEO Liang said the company plans to reduce input into noncore businesses  —  TikTok ‘s parent company ByteDance , the world’s most valuable unicorn, has no plans to go public, its chief financial officer told employees …

Salvador Rodriguez / Wall Street Journal:
ByteDance’s August report to staff says revenue grew 80% to $61.7B in 2021 but operating losses more than tripled to $7.15B as it spent heavily on growth  —  Social-media giant saw its operating losses more than triple last year to above $7 billion  —  TikTok, Instagram Reels or YouTube Shorts: Who Will Win the Short-Video Race?