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Facebook on Thursday signed a multiyear licensing deal that lets its users post videos containing songs from the world's biggest record label, Universal Music Group. The agreement works across all of Facebook's platforms, including its news feeds, Instagram and Oculus, according to a joint press release.
"Under this partnership, users will be able to upload videos that contain licensed music and personalize their music experiences on Facebook, Instagram and Oculus, while sharing videos with friends and family," the companies said in a statement. "In time, functionality will expand to enable access to a vast library of music across a series of social features."
Terms - Deal
Terms of the deal weren't disclosed.
For years, artists have complained that streaming services don't adequately pay them for their music. Under the deal, Facebook has agreed to compensate...
(Excerpt) Read more at: CNET
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