Snap announced today Multi-year contract With Universal Music Group, one of the largest music companies in the world. From Queen to Justin Bieber, users can clip songs from the vast UMG catalog and use them in Snap and Spotlight, a rival to the app TikTok.
This announcement will be made after Snapchat Added sound function In October, users will be able to enhance Snap with music licensed by Snap. Since then, more than 521 million videos have been created using sound and watched more than 31 billion times, according to Snap.
Of course, Snapchat’s investment in music is a direct reaction to the growth of music on TikTok. Last year, Fleetwood Mac’s 1977 album “Rumours” reappeared on the Billboard charts after the record song “Dreams” was talked about on TikTok. Dance trends are also often talked about on TikTok. This may correlate with the increased sales of the artist in which the song is featured.Therefore, the more music licensed by apps like TikTok and Snapchat, the more opportunities you have. Another Nathan Apodaka Moment, This means free promotion of the platform.
Already, Generation Z artists like Olivia Rodrigo are leveraging these social platforms to promote new music. Snap reports that more than 10 million videos have been created using her song “Driving License.” Rodrigo was also the first artist to promote his record-breaking debut, Sour, using AR lenses on Snapchat, but to be fair, he also shared the AR effect on Instagram.
Olivia Rodrigo saidDéjà vuWith her new album, “and you may be déjà vu from the release of Snap. TikTok too Signed a contract with UMG During February.And before that, Tik Tok announced in November New license agreement With Sony. Meanwhile, Snap’s portfolio of music partners includes Warner Music Group, Sony Music Publishing and others.
These transactions are not exclusive. You can use “dejavu” to create videos on Snapchat, TikTok and Instagram. When it comes to such deals, it’s a constant battle of reactionary one-up manship. If TikTok signs a contract with UMG, Snapchat must also sign a contract with UMG to stay competitive. This is what we are seeing today. As our friend Olivia says This is cruel..
Snap has signed a deal with Universal Music Group to add its catalog to Sounds – TechCrunch.
Source link Snap has signed a deal with Universal Music Group to add its catalog to Sounds – TechCrunch.