Facebook May Get The Right To Show Music Videos
The American company Facebook, which owns the social network of the same name, has signed several deals with some of the largest record companies, which will allow it to get the right to display music videos on its platform. As Bloomberg reported on Friday, citing sources, such a move will help the social network compete with the YouTube video hosting service.
According to the publication's interlocutors, a statement on cooperation with such recording corporations as Warner Music Group, Universal Music Group, and Sony Music Entertainment will be made in the near future.
Bloomberg notes that Facebook previously received the right to play audio recordings, but permission to display video clips on the platform was still missing. The Corporation, the Agency's interlocutors add, has already contacted some artists to obtain exclusive rights to play their music videos. Also, Facebook is ready to pay for the cost of producing content, provided that the work is promoted in the social network.
A representative of the American Corporation declined to comment on the information received by Bloomberg.
Facebook was founded on February 4, 2004, by Mark Zuckerberg and three of his fellow students during their studies at Harvard University. According to the company's specialists, more than 2.7 billion people in the world use one of its services at least once a month. Facebook Instagram social networks, as well as WhatsApp and Messenger apps, are included in this list.