Multiple sources are reporting that, like everyone else, Facebook is trying to a get a piece of the music industry pie too.
According to The Verge, Facebook has been meeting with major record labels like Sony Music Entertainment, Warner Music Group and Universal Music Group.
Amazon, Apple, Google and Microsoft have all launched their own music services, so naturally it would seem that Facebook and other internet powerhouses would follow suit.
It’s reported that Facebook is looking to find some way to capitalize on the video side of the music business rather than just coming up with their own audio-based, music streaming service.
It already partners with Spotify, and it is one of the only major tech firms that doesn’t offer a bespoke music-based service.
During a question and answer session earlier this week, Facebook founder Mark Zuckerberg said he believes video will soon be even more important than photos.
This was followed by reports that said Facebook has been testing a ‘suggested videos’ feature, similar to YouTube’s, as well as rolling out more in-play adverts on such videos.
The reports continued that Facebook is planning to offer creators such as the NBA a share of the revenue from adverts sold on videos.
Facebook serves around 4 billion a videos a day but it reportedly struggles with the amount of copyrighted material uploaded – something YouTube is able to manage using its Content ID tool and partnerships with certain labels.
Of course, everything is still premature but I’m already feeling overwhelmed. I can’t keep up with all of these fancy services.
SO. MANY. OPTIONS.
What do you think about Facebook diving into the music and video areas
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