Published: Fri, December 22, 2017
Sci-tech | By Jackie Newman

Facebook challenges music streaming giants with Universal Music deal

Facebook challenges music streaming giants with Universal Music deal

"There is a magnetic relationship between music and community building", said Tamara Hrivnak, Head of Music Business Development and Partnerships, Facebook. The agreement works across all of Facebook's platforms, including its newsfeeds, Instagram and Oculus, according to a joint press release. Additionally, YouTube aims to crack down on user uploads of copyrighted music on the platform under the deal.

"Under this partnership, users will be able to upload videos that contain licensed music and personalize their music experiences on Facebook, Instagram and Oculus, while sharing videos with friends and family", the companies said in a statement. The accords establish royalty rates between YouTube and rights holders for professional music videos and user-uploaded clips, and pave the way for YouTube to introduce a new paid music service early next year.

And in August, the company launched Facebook Watch in the United States, a sub-section on the platform that like YouTube offers unique, quirky videos by homebody presenters unlikely to be cast by television executives. In what's been quite the long-time coming for the social network, Facebook has signed its first-ever deal for music rights with a record label.

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Neither Facebook nor UMG are saying how much today's deal is worth, only describing it as a "global, multi-year agreement".

The announcement comes two days after Universal inked a separate licensing agreement with YouTube - long an irritant to the music industry which says the video site pays too little in compensation. YouTube still hopes to enter talks with video-hosting service Vevo to include its music videos on Remix.

YouTube, the world's largest destination for online video, sells music-streaming subscriptions, but Spotify and Apple Music are thought to be more popular.

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