Facebook have finalised a licensing agreement with Universal Music meaning that they might be fixing the rife copyright infringements on Facebook Videos.
The deal with Universal will see music licensed in a multi-year deal on the social media platform. Music copyrights have been a common issue on Facebook since they’ve launched and built up a video platform which now gets hundreds-of-millions of views everyday.
Reportedly the deal will also result in the firms working together on new music products together. Whilst licensing music on Facebook will be the most important result of this deal the implications of a product created between the world’s biggest label and Facebook could mean anything, potentially a challenge to YouTube.
UMG have said this deal is “unprecedented”. Universal’s executive vice president of digital strategy, Michael Nash said: “Together, Facebook and UMG are creating a dynamic new model for collaboration between music companies and social platforms to advance the interests of recording artists and songwriters while enhancing the social experience of music for their fans.”
Facebook’s products include Instagram and the virtual reality company Oculus, which will both gain licensing rights from the deal. The companies said in their release statement that users will have access to a “vast library” of music “in time”.