Facebook signs deal with Universal Music Group over videos that contain songs

Facebook and Universal just cut a huge music licensing deal

Facebook says this is the first step, but noted that it would work with UMG to introduce "music-based products" on its platforms moving forward.

Facebook said Thursday it has struck a deal with Universal Music Group that will allow users on its properties including Facebook, Instagram and Oculus to legally add songs from the record label to their videos.

Per The Verge, Facebook has also been in similar talks with Warner Music Group and Sony Music Group.

YouTube has signed a second global agreement with a major music company "Universal Music Group" as a part of its plan to extend its subscription businesses segment. Users can easily opt to watch music videos on YouTube for free, potentially making it more hard to convert some of its users into paying Remix subscribers. A joint statement did not specify the terms but hinted that the agreement would address compensation by YouTube, a constant source of irritation within the music industry.

Also not a coincidence: Universal and YouTube announced their own multiyear deal earlier this week.

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And in August, the company launched Facebook Watch in the United States, a sub-section on the platform that like YouTube offers unique, quirky videos by homebody presenters unlikely to be cast by television executives.

The social networking company's deal with Universal Music Group continues to prove why Facebook is having an incredible 2017.

For years, artists have complained that streaming services don't adequately pay them for their music. Facebook's aggressive push into video has intensified competition with YouTube.

In an escalation of competition with YouTube, Facebook has been flashing hundreds of millions of dollars to major record labels and music publishers so users can include songs in the videos they upload, according to Bloomberg News.

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