Posts: 2,000 +231
Facebook is apparently not content with just being a social network and ad-supported video provider: the company is reportedly building a streaming music platform that will compete with the likes of Spotify, Rdio, Apple Music, Google Play Music and Microsoft's newly-renamed Groove Music in an ever-growing market.
The first stage of Facebook's music streaming plan is to launch ad-supported music videos, which would see music rights-holders paid for each play of a music video on Facebook. It has also been reported that Facebook will introduce a system similar to YouTube's Content ID for their videos that would help rights-holders get paid when user-uploaded videos feature copyrighted music.
According to Music Ally, negotiations between Facebook and the music industry regarding music videos are "at an advanced stage", and the platform itself will roll out in the coming months.
The second part of Facebook's music plan is the streaming service itself. The launch date and business model for this service are reportedly still up in the air at this point, although launching a music streaming platform is "very much on Facebook's roadmap" for the coming years.
Rights-holders and Facebook are allegedly waiting to see how the social network's ad-supported video and content ID platform works out before a music streaming deal is negotiated. It's expected that Facebook will build their own platform rather than buy out a rival, although the latter is certainly not out of the question.