Snapchat Collaborates With NBCUniversal

Snap Inc's SNAP Snapchat forged a deal with Comcast Corp's CMCSA NBCUniversal for user access to licensed audio clips from various NBCU movies and TV shows.
Now users can add Snaps audio clips from fan favorites like "Saturday Night Live" and "The Office," then send them to other users or post them to Snapchat Spotlight. The audio catalog includes popular TV shows and movies.
"NBCUniversal has an iconic catalog, and we know Snapchatters will love adding quotes from their favorite movies and series to their Snaps to help perfectly express the moment," said Ben Schwerin, Snap said.
Snapchat's other collaborations include Universal Music Group, Warner Music Group, NMPA, Sony Music Publishing, Warner Chappell, Kobalt, BMG, TechCrunch reports.
Snapchat seeks to compete with TikTok, which popularized short-form video sharing with posts set to music from an extensive catalog.
Price Action: SNAP shares traded lower by 0.52% at $53.70 in the premarket session on the last check Tuesday.