April 26, 2018

Music label deal paves way for paid YouTube service

22 December 2017, 12:09 | Rudolph Thomas

Future Business

Future Business

Facebook head of music Tamara Hrivnak said the deal would allow Facebook users to "open up creativity, connection and innovation through music and video".

The deal, announced this afternoon (December 21), will give users permission to legally upload and share videos which contain UMG-licensed music across Facebook, Instagram and Occulus for the very first time. Nonetheless, with companies like Magic Leap partnering with Sigor Rós on audio/visual experiences, it's clear that the upcoming mixed-reality revolution is ripe for giving music a new dimension.

Facebook has made its first moves to challenging music streaming rivals by sealing a deal to allow copyrighted music videos to be used across its social media sites.

A successful music streaming service would strengthen YouTube's relationships with music rights holders.

Universal Music Group has famous artists including Taylor Swift and Jay-Z in its kitty. Sony Music, also signed a new agreement, according to people familiar with the matter.

By moving to appropriately license music on its platform, Facebook is also opening the door for further control on user-generated content.

The deal is beneficial to both thee Universal Music Group and YouTube as Universal Music's artists woul get more artists more flexibility, pay and visibility and on the other hand, will boost and strengthen YouTube's commitment to managing music rights.

The deal raises the possibility Facebook will cut similar deals with other major record labels.

"This partnership is an important first step demonstrating that innovation and fair compensation for music creators are mutually reinforcing-they thrive together", Nash continued. Being able to add a digital music experience - akin, maybe, to a virtual concert that could be enjoyed on a smartphone or a VR headset like Oculus Rift - might represent a valuable new revenue stream. "We are excited to bring that to life on Facebook, Instagram, Oculus and Messenger in partnership with UMG", she said today.

Facebook declined to comment about its music strategy beyond a press release.

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