Facebook challenges music streaming giants with Universal Music deal

Facebook signs deal with Universal Music Group over videos that contain songs

"Under this partnership, users will be able to upload videos that contain licensed music and personalise their music experiences on Facebook, Instagram and Oculus, while sharing videos with friends and family", explained the announcement.

Facebook is getting more musical.

Facebook head of music Tamara Hrivnak said the deal would allow Facebook users to "open up creativity, connection and innovation through music and video". While UMG is the first label to sign a licensing deal with Facebook, it won't be the last, as Facebook has been in talks with Warner Music Group and Sony Music Group as well, according to multiple sources.

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

Depending on the nature of future music-based social media experiences made possible by this agreement, the impact on the music industry could be palpable.

So, on the one hand this is what publishers and labels have been asking for in 2017 - an initial deal to license Facebook for the music contained within user-uploaded videos. 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.

YouTube, a division of Alphabet Inc.'s Google, is the world's largest destination for online video and sells music-streaming subscriptions.

Adding that the two parties are creating "a dynamic new model for collaboration between music companies and social platforms", UMG's Executive Vice President of Digital Strategy Michael Nash declared: "This partnership is an important first step demonstrating that innovation and fair compensation for music creators are mutually reinforcing - they thrive together". The deal will also include Instagram and Oculus. In the pipeline, it also paves the way for a potential Facebook Music service, which could rival Spotify and Apple Music for on-demand streaming playback.

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