Facebook is said to be working on a standalone app; Lasso where users can record and share the videos by lip-syncing or dancing to popular songs themselves. This app is a standalone competitor for the Musica.ly app which is later was acquired by Bytedance and rebranded to TikTok.
According to a report, "It's basically TikTok/Musically. It's full-screen is built for teens, fun and funny and focused on creation. A lot of what they're doing is just trying to be cool". This new product is being built by members of Facebook's video and watch team guided by the company's principal lead product designer Brady Voss.
Vos previously worked on Facebook's TV app. He also worked on the recently shut down Hello standalone app. Facebook has said that it is being invested for the teen music app space since 2016. Earlier this year Facebook started secured licensing deals with all major record labels. At first, this just kept users' videos, including Musical.ly-style lip syncing clips, from being taken down for copyright infringement.
According to a Piper Jaffray survey, only 5 percent of U.S teens cite Facebook as their favorite social platform. The percentage who use it has dropped from 60 percent to 36 percent since Spring 2016. At this point, Facebook needs new ways to engage teens beyond Instagram and Whatsapp.
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