The recent leaks from Sony Entertainment have led to a a few revelations that they would have rather have kept quiet, however, it has also revealed some interesting negotiations between Sony and SnapChat, which had been planning to launch a record label of its own.
Musicweek reports that plans for the record label were discussed in emails between Evan Spiegel, the CEO of SnapChat, and Dennis Kooker, who acts as Sony’s president of global digital business.
If it did come into fruition, the record label would help to promote artists that Spiegel wants to use the SnapChat platform.
Emails reveal the details of a Jun 5th meeting between Kooker and Spiegel. According to Business Week, the email said:
"He doesn’t want to build a music service but he would like to have a record label so he could focus on the artists that he wants to use the platform to promote. He also wants to participate in the upside that he will create by promoting them on the platform."
The email message from Kooker then went on to say:
“I am going to go back to my team with some of these concepts and see if we can get creative in how we could get something to work here that is in the direction of Evan’s vision and get him more exposed to what we can bring to Snapchat. We have a lot of ideas of our own but I don’t think Evan will engage in our ideas until we try to move something forward that he wants to accomplish.”
At the time of writing it is still not known whether or not SnapChat will go on to launch its record label, but as the emails show, it is clearly something that is under consideration. However, Spiegel has spoken out saying that he is devastated that plans for possible SnapChat developments have been leaked.
2014 as being a year of changes for SnapChat. The site has announced a number of new initiatives this year, including the launch of SnapCash, SnapCash is a collaboration with Square and provides an easy way for SnapChat members to make secure payments without having to enter their card details in every time they use the site.