Facebook puts toe in music streaming video with UMG deal

Facebook puts toe in music streaming video with UMG deal

"Going forward, the companies will experiment hand-in-hand to introduce new music-based products to these Facebook platforms", the two companies say, "including Messenger, with the goal of catalyzing innovation to develop the next generation of music products that best engage social consumers".

Universal will license its music recordings and videos around the world for use on Facebook as well as on Instagram and the virtual reality site Oculus, which are both owned by Mark Zuckerberg's company.

"This partnership is an important first step demonstrating that innovation and fair compensation for music creators are mutually reinforcing - they thrive together", said Michael Nash, the label group's executive vice president of digital strategy.

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.

With those tools in place and this new deal, Facebook is another step closer in its quest to be a destination for high-end video.

The deal comes just two days after Universal signed a a similar partnership with YouTube.

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

Google's YouTube recently signed a new agreement with all three major record labels ahead of the rollout of a new music streaming service in 2018.

We have more questions, of course. The video site already has a YouTube Music platform and the advertising-free YouTube Red subscriptions, but it is reportedly looking to set up a more elaborate site on the model of the major, on-demand music services.

The social networking company's deal with Universal Music Group continues to prove why Facebook is having an incredible 2017.

Can it create new, social-infused music formats - think what Musical.ly did with the 15-second lip-synch clip, although Dubsmash also deserves credit there - that will actually generate revenue for artists, songwriters and their rightsholders?

Earlier this month, Facebook released its own collections of songs and song effects.

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