Facebook to Integrate Universal Music Group's Music Into Its Platforms
22 December 2017 - 4:56AM
Dow Jones News
By Imani Moise
Facebook Inc. (FB) and Universal Music Group are pairing up to
give Facebook, Instagram and Oculus users access to Universal's
deep vault of licensed music and videos.
The partnership, the first between the social media giant and a
major music company, will allow the social media users to upload
and videos that contain licensed content. Previously, most videos
with licensed content were prevented from being uploaded due to
copyright.
The move comes after Chief Executive Mark Zuckerberg changed
Facebook's mission statement in February and said it would work to
help fix a "striking decline in the important social infrastructure
of local communities."
"There is a magnetic relationship between music and community
building," said Tamara Hrivnak, Facebook's head of music business
development, in a news release.
Other social media networks have looked to music to boost
engagement on their platforms. Universal formed a similar
partnership with MySpace in 2008 to give its music a broader
reach.
Shares in Facebook rose 0.3% to $178.42 in afternoon
trading.
Write to Imani Moise at imani.moise@wsj.com
(END) Dow Jones Newswires
December 21, 2017 12:41 ET (17:41 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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