Facebook and Universal Music Group Strike Up Unprecedented Global Licensing Agreement

Facebook and Universal Music Group Strike Up Unprecedented Global Licensing Agreement

Universal Music Group and Facebook agreed on a multi-year deal that lets Facebook host content with the label's licensed music across its network, including the main app, Instagram, and Oculus.

The two companies, in a joint statement, said they were developing more personalized functions in a bid to "develop the next generation of music products that best engage social consumers".

The move is the first step to competing with streaming giants such as Google-owned YouTube's over online music videos.

Warner Music and Sony also extended deals with YouTube, and according to insiders they will likely sign deals with Facebook following Thursday's UMG news.




"There is a magnetic relationship between music and community building".

Universal - home to some of the biggest names in music from The Beatles to Elton John and Lady Gaga - billed the agreement as its latest success in securing more revenue from songs in an age of round-the-clock Internet sharing.

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.

YouTube said on Tuesday that it had sealed a licensing agreement with the world's largest music label conglomerate Universal as the video behemoth explores creating a new streaming service. The service will include on-demand music streaming - similar to Spotify - and offer video clips. "We are excited to bring that to life on Facebook, Instagram, Oculus, and Messenger in partnership with Universal Music Group", said Tamar Hrivnak, Facebook's head of music business development and partnerships. That deal promised to give "recording artists songwriters improved content flexibility and growing compensation from YouTube's ad-supported and paid-subscription tiers, while also furthering YouTube's commitment to manage music rights on its platform". YouTube has received criticism for not adequately paying artists for streams of their music videos.

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