Snapchat CEO to ‘Shake up’ the music industry with acquisiton of Taylor Swift record label Big Machine
Snapchat chief executive Evan Spiegel is looking to acquire the record label representing Taylor Swift, according to a report from the New York Post.
The Snapchat head is among several parties, including Apple, with a reported interest in acquiring Big Machine, the country music label currently owned by Scott Borchetta, which has pop superstar Taylor Swift among its roster.
The label, which is valued at £227m, could bring serious star power to the app and provide its largely millennial userbase with exclusive Taylor Swift songs and content.
If the acquisition goes through, the label could be to promote its stars through the Snapchat Discovery feature, which enables Snappers to consume bitesize daily updates from media giants such as Daily Mail, Vice and CNN.
The interest follows Spiegel’s plans to expand into the music industry being leaked during the Sony hack in December: “[He] would like to have a record label so he could focus on the artists that he wants to use [Snapchat] to promote.”
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Snapchat is an image messaging and multimedia mobile application created by Evan Spiegel, Bobby Murphy, and Reggie Brown, former students at Stanford University, and developed by Snap Inc.Find out more