One service that music industry fans may need to take a closer look at is if they find Lady Gaga's "The Cure", Kendrick Lamar's "Humble", or OneRepublic's "Apologize" on YouTube Red, the social media network's premium service. Earlier this week, the company cut a deal with YouTube on a global partnership that's expected to better monetize users of the streaming video site. UMG's announcement mentions that newer music-based products will be built out between the two companies. While Universal was first, according to Variety, Warner Music may be next to sign on. Until now, Facebook removed any user-posted videos containing copyright music. "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".
While Facebook remain mum if they are targeting YouTube with this deal, several Universal Music Group leaders are concentrating on making sure that professional artists continue to make a living as details of this partnership are rolled out.
With this deal, the companies hope to "advance the interests of recording artists and songwriters while enhancing the social experience of music for their fans", says Michael Nash, UMG's Executive Vice President of Digital Strategy, in a statement. The move will soon bring UMG's music catalog to Facebook, Instagram, and Oculus.
"There is a magnetic relationship between music and community building", said Tamara Hrivnak, Head of Music Business Development and Partnerships, Facebook.
YouTube is on its way to launch its new paid music service which will be out by March next year. And previous year, FB founder Mark Zuckerberg told analysts that Facebook users watched an average of 100 million hours of video on the platform every day, though it has struggled to monetize that traffic.
By moving to appropriately license music on its platform, Facebook is also opening the door for further control on user-generated content.
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