Facebook steps into YouTube with Universal Music Deal

Facebook UMG announce unprecedented global agreement

Facebook steps into YouTube with Universal Music Deal

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.

The move marks a new foray into music by Facebook, which despite its global conquest had been low-key in developing music functions compared with fellow tech titans Apple, Google and Amazon.

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Universal Music Group and social media giant Facebook have signed a global licensing arrangement that will make the publisher's music catalogs available for video and "social experiences", across Facebook, Instagram and Facebook's virtual reality company Oculus. "Music lovers, artists and writers will all be right at home as we open up creativity, connection and innovation through music and video".

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. Additionally, ad-supported streaming services like YouTube and SoundCloud paid millions of dollars less than subscription platforms like Spotify did in 2016, according to Digital Music News. Based on the partnership announced between the music group and YouTube, it sounds as though this agreement is a method to curb financial losses and the new products are a byproduct.

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Tamara Hrivnak, head of music business development and partnerships, Facebook, said of the deal: "There is a magnetic relationship between music and community building".

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. Mixed Match Challenge will feature fan-favorite wrestlers from WWE Raw and SmackDown Live. For context, music streaming leader Spotify has converted around 40% of its active users into paying subscribers. Zuckerberg defended his organization to the President and stated that Facebook helped the country engage in dialogue during the 2016 Presidential Campaign. Messenger, Instagram, and Facebook all made the Top 6 of the 2017 Top Apps Charts.

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