Market Overview

Snapchat Plans To Add TikTok-Like Music Features By Fall This Year

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Snapchat Plans To Add TikTok-Like Music Features By Fall This Year

Snap Inc’s (NYSE: SNAP) messaging app Snapchat is planning to release a feature this fall that will allow users to set their Snaps to background music, something which TikTok users can do at present, TechCrunch reported Monday.

What Happened

The feature is likely to provide users with a similar experience to ByteDance’s short-form video app TikTok.

Users will be able to add music from Snap’s partners such as Warner Music Group Corp (NASDAQ: WMG), Vivendi SA (OTC: VIVEF)-owned Universal Music Publishing Group, and the National Music Publishers' Association members.

Snapchat is anticipated to offer users the ability to listen to the full track on music streaming platforms like Spotify Technologies SA’s (NYSE: SPOT) Spotify, Apple Inc’s (NASDAQ: AAPL) Apple Music or SoundCloud, TechCrunch, noted. TikTok only lets users hear a snippet.

Why It Matters

Snapchat is testing the feature at a time when TikTok is under scrutiny in the United States over privacy violation and is under threat of being banned. 

Microsoft Corporation (NASDAQ: MSFT) is in discussions with TikTok’s owners to buy the app in the US and three other countries, which are expected to conclude by September 15.

Meanwhile, Facebook Inc (NASDAQ: FB) is offering incentives to TikTok creators to draw them to its Instagram Reels service, which also is built similarly to the Chinese app.

Price Action 

Snap shares traded 0.5% lower at $21.11 in the pre-market session Tuesday.

 

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Posted-In: ByteDance SnapChat social media techcrunch TikTokNews Tech Media

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