Facebook and Universal Music Group Strike Up Unprecedented Global Licensing Agreement

Future Business

Future Business

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.

What does this mean for Vevo, the music-videos service whose main distribution channel has been YouTube, but whose deal with that platform is up for renewal in 2018 - just as (it seems) Facebook is planning to do a lot more with music video in various forms?

The two parties will also partake in developing 'experimental new music-based products to these Facebook platforms, with the goal of catalysing innovation to develop the next generation of music products that best engage social consumers'.

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"In time, functionality will expand to enable access to a vast library of music across a series of social features".

YouTube is expected to launch a new paid music service next year after striking three deals with major labels this year, including UMG, which signed a second global, multi-year agreement with the site this week. Users can easily opt to watch music videos on YouTube for free, potentially making it more hard to convert some of its users into paying Remix subscribers.

Attention, music lovers! Universal Music Group and Facebook are collaborating on a licensing deal that will enhance your social media experience. We are excited to bring that to life on Facebook, Instagram, Oculus and Messenger in partnership with UMG.

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While Facebook remain mum if they are targeting YouTube with this deal, several Universal Music Group leaders are concentrating on making sure that professional artists continue to make a living as details of this partnership are rolled out.

This year, UMG inked a similar deal with Spotify, and earlier this week, extended its licensing deal with YouTube to give UMG greater control over its music, as well as compensation for its artists.

Hrivnak, now Head of Music Business Development and Partnerships at Facebook, is quoted in the joint statement, pointing out the "magnetic relationship between music and community building".

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