Facebook has signed a multiyear licensing deal with Universal Music Group that will let Facebook users use music owned by the label across its platforms.
If someone uploads a video clip on Facebook or Instagram that has music owned by UMG, the video will not be taken down. The deal sets up Facebook as a direct competitor to YouTube which is the most popular online medium for listening to music.
Universal Music’s chief executive officer Lucian Grainge said in a statement,
“Our deal with Facebook leverages the experience we’ve gained and the wealth of data we’ve amassed to win both greater flexibility as to how our music is offered to the public as well as fairer compensation for our artists.”
Partnering with Facebook also gives record labels a way to put pressure on YouTube, which has become a powerful force in the music industry as a marketing platform and sells music streaming subscriptions. The companies explained that the partnership will give Facebook and Instagram users the ability to upload and share videos that contain licensed music.
This year saw YouTube signing deals with the big three labels (UMG and Sony Music Entertainment and Warner Music). Read here
- Entertainment News2018.08.13NH7 Weekender announces line up for Meghalaya edition
- Entertainment News2018.08.11All That Matters 2018
- Business News2018.08.10Artist Portal, Sony Music’s global artist royalty portal is now in India
- Entertainment News2018.08.09All About Music announces a dazzling list of speakers
769total visits,2visits today