![]() For every international hit like “Squid Game” or “Money Heist,” Netflix produced dozens of other shows whose titles you have definitely forgotten about. It’s very expensive to make the kinds of shows that generate the kind of enthusiasm and excitement from global audiences that drives the growth of streaming platforms. Instead, the streaming marketplace is slowly transforming into something approximating Cable Television But Online. Sadly, Hollywood and Silicon Valley have come together over the last decade or so to recognize that this isn’t really economically viable. The original dream of streaming was all of the content you love, easily accessible on your TV or computer at any time, at a reasonable price. Since then, the stock has risen another 21%, including a near-5% bump on Friday by the market's close. ![]() It remains to be seen how exactly the company will integrate Voisey, but the acquisition signals a broader continuation of the rising prominence that music plays in social media.Snap's stock has been on a tear since its upbeat Q3 earnings report, which goosed a next-day share price increase of 28%. The move follows Snap's recent launch of its TikTok-esque "Sounds on Snapchat" feature. As of September, the app housed over 11 million new songs, which had collectively been played over 200 million times, according to Music Business Worldwide. Snap did not reply to dot.LA's request for comment.Īs an indicator of how these tools and services can lead creators to legitimate success, earlier this year, California-based artist Olivia Knight signed with Island Records and Warner/Chappell Music after she gained traction on Voisey by creating over 100 videos on the platform. "We are on the cusp of a revolution in music making," Mulligan wrote, "with a host of new tools and services set to create the fastest growth in music creativity ever seen. Music industry analyst Mark Mulligan of MIDiA, a research firm, put the acquisition in the context of the ongoing growth of music-oriented creator tools like L.A.-based Output, which recently raised $45 million in its first ever fundraise. Among those investors was Norwegian DJ duo Stargate, which described Voisey as 'the future of songwriting.' It subsequently picked up just shy of $2 million in investment, according to Pitchbook. Voisey was founded by a group of music-tech entrepreneurs from Norway and the U.K. Music producers upload their own beats, upon which more users can then add layers like vocals, harmonies or percussion, with support from tech features like auto-tune or other audio enhancements. Whereas TikTok allows users to lip sync and dance to songs in the app's library, Voisey enables users to co-create new songs, or parts of songs, up to a minute in length. Voisey is a mobile app similar to TikTok, but with more of a creator-oriented bent. The deal was reported by Business Insider, which did not include terms. This is a smart move by Snapchat, one that has the potential to tip the scales in a new marketplace changed by TikTok.Santa Monica-based Snap has acquired Voisey, a U.K.-based music-tech startup that launched in 2019. These features are what make this app so great when it comes to working with a number of different social media platforms, something that has made Snapchat so eager to buy the app in the first place. This is also going to be a bit of a blow for TikTok, since an app that many of its users enjoyed using on a regular basis is now in the hands of one of its biggest competitors something that could prevent TikTok users from making use of Voisey and potentially even driving a lot of users to switch to Snapchat in order to continue using Voisey during their music making endeavors.Īn interesting aspect of Voisey is that it has the potential to allow a lot of musicians to end up working together due to the various collaborative features it has in the mix. Snapchat’s parent company Snap has now acquired Voisey, and chances are that many of the features the app had to offer that allowed users to make beats along with a lot of other songwriting tools might just end up getting incorporated into Snapchat in the near future. A songwriting app by the name of Voisey has attained quite a high level of popularity among people that use TikTok, and since TikTok is a major competitor that Snapchat now has to start dealing with this provided the social media platform with a chance to get an edge on the competition. Snapchat has made quite a few admirable efforts to hold its ground in spite of the fact that it is a real underdog when you compare it to larger social media platforms that might be out there many of which often steal Snapchat’s own features with impunity.
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