Report: Facebook Pursuing Licensing Deals for Music Videos
Our Take:
It’s clear that Facebook has recently made video a priority of its business. A plan surfaced last week to share ad revenue with creators, and now, reports the New York Times, it’s gunning after music video licensing deals. That’s YouTube’s bread and butter. It would once again be an ad sharing revenue situation with music labels. Facebook denied that it’s getting directly into the music streaming business itself, reported by Billboard. One thing is certain: Facebook has digital video on the mind–particularly monetization of original content.
Over the last few years, Facebook has slowly encroached on YouTube ‘s territory as a go-to outlet for online video, showing popular content from publishers like BuzzFeed and Vice and a growing number of user-loaded clips. Now Facebook is considering going after another piece of YouTube’s signature turf: music videos.