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    SNAP   US83304A1060

SNAP INC.

(SNAP)
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Snapchat Users Gain Access to Universal Music Group's Library of Music

06/24/2021 | 12:18pm EDT

By Kimberly Chin

Snapchat users globally will get access to Universal Music Group's library of recorded music and content for their own content-making on the social media platform, the companies said Thursday.

Snapchat parent Snap Inc. struck a deal with Vivendi SE's music-focused entertainment company that will bring UMG's entire music catalog to Snapchat's sound tool. Snapchat users will be able to find the music when creating a post and also use it in curated playlists.

UMG plans to develop its music content through augmented reality using Snapchat's Lens, which will feature music artists' content in the Lens Carousel and Lens Studio. Olivia Rodrigo was the first music recording artist to create lenses with Snapchat's new Augmented Reality VFX technology in the Lens Studio, the companies said. Through Ms. Rodrigo's Lens feature, users are covered in graphics from her new album, "Sour."

There will be opportunities to promote merchandise launches and develop e-commerce as well, the companies said.

"When entertainment and social media companies work together, fans are able to creatively build close-knit communities around the artists and the music they love, all while ensuring that artists are fairly compensated for the use of their music," Michael Nash, UMG's executive vice president of digital strategy, said in prepared remarks.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

06-24-21 1418ET

Stocks mentioned in the article
ChangeLast1st jan.
BLACKSTONE MORTGAGE TRUST, INC. -1.57% 31.99 Delayed Quote.18.05%
DJ INDUSTRIAL -0.92% 34792.67 Delayed Quote.13.83%
SNAP INC. 4.80% 76.9 Delayed Quote.46.55%
VIVENDI SE 0.35% 28.86 Real-time Quote.9.02%
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Financials (USD)
Sales 2021 4 199 M - -
Net income 2021 -613 M - -
Net cash 2021 1 086 M - -
P/E ratio 2021 -197x
Yield 2021 -
Capitalization 121 B 121 B -
EV / Sales 2021 28,6x
EV / Sales 2022 19,4x
Nbr of Employees 3 863
Free-Float 75,1%
Chart SNAP INC.
Duration : Period :
Snap Inc. Technical Analysis Chart | SNAP | US83304A1060 | MarketScreener
Technical analysis trends SNAP INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 39
Last Close Price 76,90 $
Average target price 85,69 $
Spread / Average Target 11,4%
EPS Revisions
Managers and Directors
Evan Thomas Spiegel Chief Executive Officer & Director
Derek Andersen Chief Financial Officer
Michael M. Lynton Independent Chairman
Robert C. Murphy Director & Chief Technology Officer
Joanna Coles Independent Director
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