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Report: Snap seeking rights to catalogs from music labels

Snap Inc. is holding talks with large music labels to let users add music to their posts on the Snapchat app, The Wall Street Journal reported May 24, citing sources.

Vivendi SA's Universal Music Group Inc., Sony Corp.'s Sony Music Entertainment Inc. and Warner Music Group Corp. have been included in the talks. The social media company thus far has acquired licenses on a case-by-case basis but is now seeking broad rights to the music labels' catalogs.

The talks come as Snap is facing competition from Facebook Inc.'s Instagram Inc. and Beijing Byte Dance Telecommunications Co. Ltd.'s TikTok, which allow their users to add music to posts and videos.