Evan Spiegel, CEO of photo-messaging app Snapchat, is reportedly planning an acquisition bid for Big Machine, the record label best known for representing singer Taylor Swift.
Spiegel has expressed an interest in acquiring a record label in the past, with emails leaked during the Sony Pictures Entertainment hack revealing that he was hoping to acquire a label in order to focus on the artists he wants to use Snapchat to promote.
Since then, Snapchat has launched 'Discover', a series of curated channels with videos and content from selected partners such as Vice, MTV and National Geographic, which could easily be adopted by a record label as a method of promoting artists and singles.
According to the New York Post, Spiegel has been exploring the option of purchasing Big Machine, which has recently jumped in price from $200m (£130m) to $350m, largely due to the success of Taylor Swift's 1989 album.
He was also spotted talking to Apple's Eddy Cue, who was involved in the creation of the iTunes Store, at a party after the Grammys. Apple are reportedly also interested in purchasing Big Machine, and may form some kind of partnership with Snapchat to make the acquisition.
While an artist like Taylor Swift would help drive massive engagement with Snapchat's Discover features and make it a more attractive prospect for advertisers, the demographic data that Snapchat can offer on its largely-teenage audience could prove invaluable to a record company.