News - 06/09/2017

Facebook offers "hundreds of millions of dollars" to labels and publishers licences

Facebook offers "hundreds of millions of dollars" to labels and publishers licences

Facebook is reportedly working with industry leaders with the aim to build a system which identifies and tags music copyright. According to "Bloomberg", since the operation could require two years, in the interim, the company has offered music rights-holders “hundreds of millions of dollars” to permit its users to play with copyrighted tracks as soon as possible.

No solid figure is given by Bloomberg last year, according to the IFPI, recorded music rights-holders received $553m from video streaming services. If Facebook could near-double that figure in 2017, it may turn the heads of major music rights-holders even further away from YouTube.

Negotiations on Facebook’s side are being led by former Warner Music Group and YouTube exec Tamara Hrivnak, who joined Mark Zuckerberg’s company in January. Facebook reportedly wants to get a blanket music licensing deal in place before the launch of Watch – its new hub for video – as it rolls out plans to fund the production of original TV-style series.

The firm has been on a major music business hiring drive over the past year.

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