Snapchat music: Snap is negotiating with Sony Music Entertainment, Universal Music Group and Warner Music Group to obtain a license to use music.
Facebook’s footsteps
Thanks to the deal, users will have access to a large catalog of songs for publication in Snapchat. Facebook did this in 2018 for its Facebook, Instagram, and Oculus applications. The license made it possible for Lip Sync Live to appear, in which people sing along to famous songs.
Or take at least the same Tik Tok, which is increasingly gaining popularity. The song “Old Town Road” Lil Nas X became a meme in the app, after which for several weeks it was the number one song on the Billboard Top 100.
The Snap license agreement will not be as ambitious as Tik Tok, but Snapchat’s competitiveness will grow. According to a former employee of Snap, in social networks, they began to use music more often in videos and stories. Therefore, the transaction will be useful to both users and the company itself.
Source: WSJ
