Breaking News

Facebook seals partnerships with music giants for video rights

Kindly Share This Story:

Facebook seals partnerships with music giants for video rights

Facebook has completed a series of deals for the right to show music videos, according to people familiar with the matter, vaulting the social network into a medium dominated by YouTube.

Partnerships with the three largest music companies Universal Music Group, Sony Music Entertainment and Warner Music Group are expected to be announced soon, said the people, who asked not to be identified because the information is private.

ALSO READ: Amazon posts biggest profit despite raging COVID-19 pandemic

Music videos are one of the most popular genres on YouTube, and Facebook has long sought the legal rights to allow its billions of users to watch and share them on its platform. Facebook had previously inked deals with rights holders in order to use the audio useful when people upload clips that include background music, for example, but didn’t have permission to show the official videos.

Now, Facebook has approached some artists and music companies about acquiring exclusive rights to some music videos, even if just temporarily, the people said. In some cases, Facebook has said it would be willing to pay the video production costs, and that it would promote the video on its service to increase viewership, they said.

ALSO READ: Twitter says hack targeted employees using ‘spear phishing’

A Facebook spokesperson declined to comment.

Facebook has been looking for more ways to increase video consumption on its service, tapping into a promising market. Video advertising is often more lucrative than other types of ads, and video-based rival TikTok, owned by China’s ByteDance, has been gaining users at a rapid clip. At the same time, music video consumption has soared on YouTube during the coronavirus pandemic.

Tech Central


Kindly Share This Story:
All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Do NOT follow this link or you will be banned from the site!