YouTube seals deal with top music label amid streaming moves

Steve Phelps
December 22, 2017

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. "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. Additionally, YouTube aims to crack down on user uploads of copyrighted music on the platform under the deal.

In what may be music to the ears of Facebook users, they can now add some of their favorite songs to videos they upload and share. In what's been quite the long-time coming for the social network, Facebook has signed its first-ever deal for music rights with a record label.

"This partnership is an important first step demonstrating that innovation and fair compensation for music creators are mutually reinforcing - they thrive together".

The agreement will have a major effect on both how the consumer experiences social media, how the music industry uses social media for its product, and how artists are compensated for their work. There is also speculation that this could bolster Facebook's attempts to get further into the video market with high-end video content.

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YouTube, which is part of Google, said it reached a long-term agreement with the Universal Music Group, months after a deal with competitor Warner Music.

The deal raises the possibility Facebook will cut similar deals with other major record labels. Universal also declined to comment. 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.

Facebook has increasingly gone head-to-head with YouTube on its signature turf of videos.

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