Bloomberg reports that Facebook has begun offering music publishers million-dollar deals to retain the rights to music featured in user-uploaded videos.
Facebook recently debuted its Watch platform with the intent of tackling YouTube, and now a new report courtesy of Bloomberg has revealed that the social media company has made the bullish move of offering music publishers deals worth millions of dollars in an effort to retain the rights to music featured in user-uploaded videos.
The move could well be a bid to circumvent copyright violation; Facebook doesn’t yet have the same kind of system as Google does in the form of Content ID – thus one solution is for the company to purchase music rights itself to enable its users to freely upload music in videos without fearing a copyright strike.
Of course, the bid could also be a frontier for Facebook to become a go-to hub for newly released songs, albums, and music videos – with the combined power of an arsenal of user-generated content and the latest musical releases, Facebook could easily draw in additional advertising income and retain its users for longer periods of time.
The news comes amidst two important advents; firstly, Facebook is readying its first fleet of original television shows among which is a twelve-episode documentary take on Humans of New York. Secondly, the social media giant is reportedly preparing a foray into hardware with not only a modular smartphone, but further its own smart speaker solution.
Should the company manage to successfully coerce music publishers into a paid arrangement, the firm would have an established bouquet of web services – from Sports Stadium to Instant Games – with which to power hardware offerings.
What are your thoughts? Would music publishers be wise to get on board with Facebook’s vision for video? Be sure to let us know your thoughts in the comments below!