Universal and Facebook announce multi-year agreement4:46, 21st December 2017
Facebook and Universal Music Group (UMG) have announced a global, multi-year agreement under which UMG will become the first major music company to license its recorded music and publishing catalogues for video and other social experiences across Facebook, Instagram and Oculus.
According to UMG, the partnership ‘will facilitate deeper engagement between artists and fans’ and is ‘intended to serve as a foundation for a strategic partnership roadmap that will deliver new music-based experiences online’.
Users will be able to upload videos that contain licensed music and personalise their music experiences on the social media platforms, while sharing videos with friends and family.
The companies will work together to introduce new music-based products to these Facebook platforms, with the goal of developing the next generation of music products and engaging consumers.
Michael Nash, executive vice president of digital strategy at Universal Music Group, said: ‘Together, Facebook and UMG are creating a dynamic new model for collaboration between music companies and social platforms to advance the interests of recording artists and songwriters while enhancing the social experience of music for their fans.
‘This partnership is an important first step demonstrating that innovation and fair compensation for music creators are mutually reinforcing – they thrive together. We look forward to Facebook becoming a significant contributor to a healthy ecosystem for music that will benefit artists, fans and all those who invest in bringing great music to the world.’