Snap is in talks with Sony Music Entertainment, Universal Music Group and Warner Music Group to license songs for users to embed in messages, according to a Wall Street Journal report. The deal would give users access to a broad catalog of songs to post on Snapchat, as would the features available for Instagram Stories and TikTok.
The license agreement would come at a time when technical companies are increasingly relying on music functions as a core component of their offer. The popularity of this video & # 39; s allowed social media platforms to launch hit songs – Lil Nas X & "Old Town Road", which has been number one song on the Billboard Top 100 for several weeks, gained popularity via TikTok as a meme.
Facebook entered into a licensing agreement with the three major record companies in 2018, allowing users to place licensed music in their videos on all platforms, including Facebook, Messenger, Instagram and Oculus. The company has used the license to roll out features such as Lip Sync Live, an obvious copy of Musical.ly, which was taken over by the Chinese giant ByteDance and was folded to TikTok last year.
TikTok & # 39; s parent company ByteDance is now working on securing more license offers while it is ready to launch a music streaming service. The licensing deal from Snap is not entirely on that scale, but it will be a step towards keeping the app competitive with Facebook and TikTok. Because copyright issues between record companies and companies such as YouTube and Peloton have been a topic of discussion in recent months, Snap is in the best interest to secure licenses quickly.