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Facebook and Warner Music Group just agreed to a massive copyright partnership. This new deal means that fans are “allowed to create, upload and share videos with licensed music from the company” according to Variety. Facebook already has a deal with both Universal Music Group and Sony/ATV, so this third partnership will generate more royalties for artists.
So what does this mean for social media and the music industry? If you’re a user, it means you are able to post certain videos without the fear of it getting pulled down for copyright infringement. For the industry, Warner Music Group hopes that this merge will give artists a push to create more. WMG has an “incredible catalogue of songs” according to Eric Mackay, (EVP, Global Digital Strategy of Warner/Chappell) that will now have more recognition through Facebook’s platform.
Ole Oberman, Chief Digital Officer of WMG, added: “Our partnership with Facebook will help expand the universe of music streaming and create supplementary revenue for artists. Fan-created video is one of the most personal, social and often viral ways that music is enjoyed, but its commercial potential is largely untapped.” He explains that the collaboration will lead to “new possibilities for our artists, while enhancing the user experience across Facebook, Instagram and Oculus, and enabling people to communicate and express themselves using the music they love.”
Warner Music Group and Facebook Team Up So You Can Add Music to Your Memories and Moments http://www.wmg.com/news/warner-music-group-and-facebook-team-so-you-can-add-music-your-memories-and-moments-33301
Posted by Warner Music Group on Friday, March 9, 2018
Although the exact terms of the deal are not announced, more information is to come.