On Friday, the social networking giant—Facebook announced licensing a deal with Warner Music Group into the mix, the last most significant label that was not presently working with the social giant.
The Facebook users who count up to two billion would soon be able to post in more innovative ways with Warner’s catalogue—whose artist roster comprises of Coldplay, the late prince and Ed Sheeran.
Ole Obermann—the chief digital officer of the Warner Music Group said that partnering with Facebook would help in spreading the extent of music streaming and would also make additional revenues for the artists.
He mentioned in a statement that fan-made videos are one of the most personal, social and frequent viral ways how the music is enjoyed, however, its profitable potential is mainly untouched.
Warner informed that it has been holding out for the best possible deal following the contract its two competitors made with the social networking giant in the recent few months. The two rivals are namely; Sony Music and Universal Music.
Facebook on the matter said that it is looking around for more possibilities to offer its users more personalized ways of posting music, which includes posting via Instagram and Messenger—the two widely famous social platforms owned by Facebook.
Facebook—owned by Mark Zuckerberg has not that actively participated on music streaming as other huge-firms like Apple and Google have invested largely in the growing sector.
The music postings are pervasive on Facebook, the company has looked for taking down the entrenched content that is copyrighted without licensing.
Users diverts to other sites like Spotify and YouTube when they are not uploading their own homemade videos.
Tamara Hrivnak—the Head of Business Development and Partnerships—Facebook said in a statement that by bringing Facebook and music together, the company has the power to bring people closer together.
Hrivnak added that music brings in all kinds of emotions in the people by bringing in the happy, sad, funny or the throwback moments all that we share with friends.
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