Snap Inc (NYSE:SNAP) announced the launch of a new feature – Sounds, that will allow iOS users to add music to snaps. The move sets the company closer to compete with the likes of TikTok and Facebook Inc (NASDAQ:FB)- owned Instagram, according to The Verge.
It is the latest among a string of support features for iPhone users after the company confirmed that it would incorporate the LiDAR technology featured in Apple Inc’s (NASDAQ:AAPL) iPhone 12 Pro and iPhone 12 Pro MAX, according to TechCrunch.
What Happened: 'Sounds' feature will sport an exclusive preview of Justin Beiber and Benny Blanco’s latest track "Lonely," which is scheduled to release this Friday.
The feature allows users to access information like album arts, titles, and artist details from Sounds-enabled snaps.
It will allow users to listen and download the full version of these songs by including links to music platforms like Spotify (owned by Spotify Technologies SA (NASDAQ: SPOT)), Apple Music, and SoundCloud.
Why Does It Matter: Snapchat is also exploring features that would allow users to add their own sounds to snaps. It is still in the testing phase and could roll out globally in the next few months. The TikTok app had these features already.
Snapchat has already signed multi-year agreements with the publisher and music labels like Warner Music Group, NMPA, Merlin, Universal Music Publishing Group, Warner Chappell Music, Kobalt, and BMG Music Publishing.
Price Action: SNAP is trading 2.16% lower to $26.57 in Thursday's pre-market session at press time.