Facebook strikes first major music rights deal with Universal Music

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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?

Facebook Inc. (FB) and Universal Music Group are pairing up to give Facebook, Instagram and Oculus users access to Universal's deep vault of licensed music and videos. The move will soon bring UMG's music catalog to Facebook, Instagram, and Oculus.

Tamara Hrivnak, Head of Facebook's Music Business Development and Partnerships, said of the deal: "There is a magnetic relationship between music and community building".

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?

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. Starting next year, the recording industry giant will start synching its content with some of YouTube's elite services. Based on the partnership announced between the music group and YouTube, it sounds as though this agreement is a method to curb financial losses and the new products are a byproduct.




Adding that the two parties are creating "a dynamic new model for collaboration between music companies and social platforms", UMG's Executive Vice President of Digital Strategy Michael Nash declared: "This partnership is an important first step demonstrating that innovation and fair compensation for music creators are mutually reinforcing - they thrive together".

Universal Music Group has famous artists including Taylor Swift and Jay-Z in its kitty.

Facebook signed a significant deal with the WWE to air and introduce a new 12 episode web series Mixed Match Challenge.

Facebook is getting more musical.

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