Facebook might have confirmed that contrary to popular belief it’s not building a music streaming service but it does appear to be doing something related to music, according to reports by multiple reputable scribes the company is in talks with major record companies to put music videos in your News Feed. This would be an effort on Facebook’s part to capture the market that’s more or less dominated by YouTube right now.
The New York Times and Billboard report that the world’s largest social network has held talks with multiple record labels over the last few weeks and hopes to start pushing music videos in users’ feeds over the next few months.
Terms of the deal have reportedly not been finalized yet but Facebook may share ad revenue with the labels, offering the same ad revenue split as YouTube, 55 percent going to the rights holders and keeping 45 percent for itself.
According to the NYT, Facebook has offered a compelling deal as it promises to shut down unauthorized content more quickly than YouTube does, this might appeal to labels looking to debut new music videos.
It remains to be seen though when a deal is reached between Facebook and these record labels, it’s only after that will we start to see music videos in our News Feed.
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