Facebook Music scores big

Business

Facebook Music scores big

Wednesday, August 05, 2020

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The recent Taste of Sumfest sponsored by Facebook Music was a big hint that the online giant was coming with something different. The big story is that Facebook has signed an agreement with the three largest music companies for the rights to show official music videos on its platform.

Thousands of music fans were able to watch live performances from the world's biggest reggae stars, such as Grammy-winner Koffee, in the first of a series of virtual concerts carried exclusively on Facebook Music, highlighting innovative ways musicians are using Facebook to share and connect with fans.

News of the signing means that YouTube has a serious competitor as Facebook inked deals with Sony Music Group, Universal Music Group, Warner Music Group, Merlin, BMG, Kobalt and other independent music groups.

Before this deal, Facebook was only cleared to use songs in the background of videos, but it didn't have the rights to offer official music videos.


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