Snapchat Will Be the Next Record Label?

The high-profile leak of confidential Sony Entertainment documents revealed that Snapchat has expressed interest in starting their own record label. 

The leak revealed email exchanges of several Sony high level executives. One of the leaks expose an email between the CEO of Snapchat, Evan Spiegel, and the CEO of Sony, Michael Lynton. In the email, Snapchat expressed interest in starting their own record label because the CEO thinks "every music service in the market is shit and he wants to be a curator. 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 on the platform to promote."

While the idea of Snapchat having their own record label is interesting, what would this mean to artists?