In Facebook‘s latest attempt to take over the world, or at least the internet, the social media site is offering hundreds of millions of dollars to labels and publishers for music rights… This, according to Bloomberg Technology.
The investment would mean users of the social network could legally include songs in video uploads, which would also work as an aggressive attempt to dethrone YouTube as the primary source for video streaming. Apparently such negotiations have been going on for months, but reaching an agreement and implementing such strategies could take years.
According to a report, Facebook is eager to act fast so it can put an end to users’ frustrations when their videos are taken down. The social media network also feels it will make the lives of music professionals, partners, and advertisers much easier.
As the law currently stands, those featuring music in video uploads in which Facebook doesn’t have rights to are in violation, as well as the site itself. The rights holders must reach out to ask that infringing material be taken down through a “report” system. If you’ve ever had a Facebook video taken down because of the song playing in the background, then you know how annoying it is — and you’ll understand the importance of these negotiations, especially for us music lovers.
In addition, Facebook’s original video hub has launched on mobile, desktop, and on Facebook TV — Check out Facebook Watch here!
Introducing Facebook Watch
Source: Bloomberg Technology