Universal Music, Facebook Sign Licensing Deal

Universal Music, Facebook Sign Licensing Deal

UMG's announcement mentions that newer music-based products will be built out between the two companies. In what's been quite the long-time coming for the social network, Facebook has signed its first-ever deal for music rights with a record label.

A spokesperson for Universal Music had not responded to a request for clarification, as of publishing.

Michael Nash, executive vice president of digital strategy, Universal Music Group, said the partnership is an "important first step" demonstrating that innovation and fair compensation for music creators are mutually reinforcing. Financial terms weren't disclosed. YouTube and the record labels have had to overcome disagreements over the sharing of advertising revenue, the features and music available to free users and viewers outside the US.

In what may be music to the ears of Facebook users, they can now add some of their favorite songs to videos they upload and share.


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. YouTube declined to comment on this plans though.

Facebook's testing didn't show a change in click-through rates between the Disputed Flag and Related Article methods, but people were less likely to share a false story with the article context.

Tamara Hrivnak, head of music business development and partnerships, Facebook, said of the deal: "There is a magnetic relationship between music and community building". YouTube still hopes to enter talks with video-hosting service Vevo to include its music videos on Remix.

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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