Facebook challenges music streaming giants with Universal Music deal

Future Business

Now Universal (and eventually the other big labels) can more credibly tell YouTube that they will take their product off the world's biggest video platform, and move them to the worlds' biggest social network. "Under this partnership, users will be able to upload videos that contain licensed music and personalise their music experiences on Facebook, Instagram and Oculus, while sharing videos with friends and family", explained the announcement.

Ever wanted to post a video of you singing Demi Lovato's "You Don't Do It For Me Anymore" or Kanye West's "Heartless" without fearing Facebook removing the video?

Warner Music and Sony also extended deals with YouTube, and according to insiders they will likely sign deals with Facebook following Thursday's UMG news. Nonetheless, with companies like Magic Leap partnering with Sigor Rós on audio/visual experiences, it's clear that the upcoming mixed-reality revolution is ripe for giving music a new dimension. "Going forward, the companies will experiment hand-in-hand to introduce new music-based products to these Facebook platforms", the two companies say, "including Messenger, with the goal of catalyzing innovation to develop the next generation of music products that best engage social consumers".

"There is a magnetic relationship between music and community building".

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. For context, music streaming leader Spotify has converted around 40% of its active users into paying subscribers. While we're on that topic, what will be the knock-on effects of Facebook's deals on YouTube's music strategy?

Terms of the deal weren't disclosed.

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. We are excited to bring that to life on Facebook, Instagram, Oculus and Messenger in partnership with UMG.

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