Facebook is rolling out several music features on its platform
Facebook is ready to roll out its new music features.
After making several moves to bring music onto its 2 billion user strong platform, social media giant FB is ready to roll out with it new features.
From Tuesday users from select countries will be able to add songs to the videos they share and post. Another feature, though semi-surprising is called “Lip Sync Live” which will allow users to lip sync songs live.
“Together with the music industry, we are working to enable people around the world to include music in their videos on Facebook, opening up more options for creativity and sharing memories with friends and family,” two of the company’s executives said in a blog post debuting the two new tools.
Music rights for daaays
We have all heard of music rights and licensing, and what a mission it is to satisfy everyone but leave it to FB and its wealth and influence to secure MAJOR deals with the world’s biggest record labels; Sony/ATV, Universal and Warner Bros essentially snagging rights to use every mainstream song in existence.
Earlier this year they also secured a music licensing deal with ICE, a company which represents a database if 31 million works and whose goal it is to get royalties from platforms such as FB and distribute it to the rightful holders.
For the music business these new features mean big bucks, seeing as FB has a user-base of over 2 billion, dwarfing that of Spotify’s 160 million users or Apple Music’s 40 million users.
Though the financial details of the deals have not yet been disclosed, one can only imagine the cost of licensing entire catalogs and churning out substantial royalties for rights-holders.
Leave it to a colossal company like Facebook to make this happen, and this is only the beginning.