Snap is in talks with Sony Music Entertainment, Universal Music Group and Warner Music Group to license the songs for users to include in publications, according to a report from the Wall Street Journal . The agreement would give users access to an extensive catalog of songs to post on Snapchat, as well as features available for Instagram Stories and TikTok.
The license agreement would come at a time when technology companies are leaning more and more on music functions. central part of their offers. The popularity of these videos has allowed social media platforms to launch hit songs: "Old Town Road" by Lil Nas X, which has been the number one song on the Billboard Top 100 for several weeks, first gained popularity through of TikTok as meme.
Facebook achieved a license agreement with the three major record labels in 2018, allowing users to license music on their videos on all of their platforms, including Facebook, Messenger, Instagram and Oculus. The company has used the license to display features such as Lip Sync Live, an obvious imitator of Musical.ly, which was acquired by the Chinese giant ByteDance and folded into TikTok last year.
TikTok's parent company, ByteDance, is now working to obtain more license agreements as it prepares to launch a music streaming service. The Snap license agreement will not be entirely at that scale, but it will be a step to keep the application competitive against Facebook and TikTok. Given that music copyright issues have been a point of controversy between record labels and companies like YouTube and Peloton in recent months, Snap will agree to protect licenses quickly.