According to the reports reaching us from our sources, Snap is currently discussing with Sony Music Entertainment, Universal Music Group, as well as Warner Bros Music Group on a matter of licensing songs for users to embed into their posts. This deal that the company is attempting to make will provide users with a wide catalog of songs that they will be able to post on Snapchat, in the same way that Instagram Stories and TikTok provides its users with the opportunity to post on each respective platform.
Our sources also report that the deal that Snap is making will come fully into play when tech companies are pivoting towards the line of providing music as part of the features they offer. How well the videos in question have become known has made it possible for social media networks to launch hit songs for example, Lil Nas X’s “Old Town Road” that is currently the top song on the Billboard Top 100 for many weeks now came to be popular because it was mostly viewed as a meme on TikTok.
Facebook got a deal to license songs with three of the major record labels in the United States last year, and by so doing they made it possible for users to put licensed music in their videos in all the social media platforms they own and that includes Facebook, Messenger, WhatsApp, Oculus, and Instagram. With the license the company got, it has been able to provide its users with certain features such as Lip Sync Live – which of course is an exact copy of Musical.ly that was bought by the Chinese giant ByteDance and made to be an affiliate of TikTok in the year 2018.
The parent company of Tiktok, ByteDance is now handling a new project where they are trying to secure more licensing deals than they already have since they are planning to launch a music streaming service that could go up against Spotify in the future. The deal that Snap is trying to make is not quite as large in scale as the one that ByteDance is attempting, be that as it may, the move is a way to make its app an efficient competition for such apps as Facebook and TikTok. As recent events have shown, music copyright issues have become a serious issue arousing controversy between record labels and companies such as YouTube and Peloton, Snap will be doing what’s best for itself if it happens to secure the licenses as quickly as possible.