Facebook and Universal Music strike huge agreement

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The companies did not say when users would be able to share music in videos on platforms owned by Facebook.

Warner Music and Sony also extended deals with YouTube, and according to insiders they will likely sign deals with Facebook following Thursday's UMG news.

The partnership, the first between the social media giant and a major music company, will allow the social media users to upload and videos that contain licensed content. Financial terms weren't disclosed. "We are excited to bring that to life on Facebook, Instagram, Oculus, and Messenger in partnership with Universal Music Group", said Tamar Hrivnak, Facebook's head of music business development and partnerships. "In time", a press release on the partnership noted, "functionality will expand to enable access to a vast library of music across a series of social features".

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

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The deal is beneficial to both thee Universal Music Group and YouTube as Universal Music's artists woul get more artists more flexibility, pay and visibility and on the other hand, will boost and strengthen YouTube's commitment to managing music rights.

It was not immediately clear, however, how Universal and its artists would be compensated for the use of their music. "We look forward to Facebook becoming a significant contributor to a healthy ecosystem for music that will benefit artists, fans and all those who invest in bringing great music to the world".

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.

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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