Facebook to barge its way into the world of music via multi-million dollar deal
Facebook is eyeing up YouTube's territory according to Bloomberg, who report that the social giant is offering "hundreds of millions of dollars" to labels and publishers.
Facebook is apparently looking to make sure that its users can legally use songs in video content - Bloomberg say that the word comes from "people familiar with the matter". The implications are potentially massive, with Facebook users being able to dip into a vast catalogue as part of the service's 'pivot to video' that'll see them sidling up alongside the established Big Dogs of the video world.
Mark Zuckerberg's company is reportedly "offering major record labels and music publishers" enormous sums of cash to get this deal over the line. Talks have been ongoing for "months", with Facebook saying they'll construct a system which identifies and flags offending material - i.e. that which infringes on copyrights - but that it could take up to two years.
In order to stop policing its users, Facebook is willing to strike a landmark deal that could be one of the largest in music industry history.
This news comes just as the corporation begins launching Watch, a new online video hotspot, and starts funding original productions.
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