Facebook signs deal with music label Universal Music

YouTube Expanding

Facebook Offers Hundreds of Millions of Dollars for Music Rights

For the user, they will now be allowed to legally upload and videos with UMG licensed music, and will be able to personalize their experiences across the platforms.

Facebook is getting more musical. "Music lovers, artists, and writers will all be right at home as we open up creativity, connection, and innovation through music and video". Eventually, the FB x UMG collab will expand to also include access to UMG's library across multiple social features and music-based products, including a revamped Messenger app.

YouTube signed a long-term agreement with Universal Music Group and Sony Music, two of the world's top three record labels, Bloomberg reports.

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A successful music streaming service would strengthen YouTube's relationships with music rights holders.

What does this mean for Spotify, which has been one of Facebook's strongest partners in the music-streaming space - how will playlists and other content shared from Spotify rank in Facebook's news feed algorithm compared to the content bubbling up from the social network's deals with labels?

Many industry insiders believe that Facebook's brand new venture with Universal Music Group may present a challenge for one of its biggest competitors.

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Based in South Florida, the company has only doled out vague hints about its technology since it was founded in 2011. Our spatial interface includes multiple input modes including voice, gesture, head pose and eye tracking.

The deal marks an important milestone in the social company's ambitions to compete with Google's YouTube, now the most popular destination online for listening to music.

With this deal, the companies hope to "advance the interests of recording artists and songwriters while enhancing the social experience of music for their fans", says Michael Nash, UMG's Executive Vice President of Digital Strategy, in a statement. YouTube has received criticism for not adequately paying artists for streams of their music videos.

Universal has certainly been busy on that front: the Facebook announcement comes just days after the company revealed a new licensing deal with YouTube - also a global, multi-year agreement - which is seen as a step towards that platform's new "Remix" streaming service in 2018.

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