It appears as though rumors that Facebook is working on its own music streaming service were a little off, and that what the company is actually working on is securing deals with major record labels to put music videos directly on your News Feed. Zuckerberg has made it clear that video content is extremely important to Facebook, and considering how music videos make up a significant chunk of YouTube’s most-viewed content, putting music videos on Facebook seems natural.
Over the last few years, Facebook has slowly encroached on YouTube’s territory as a go-to outlet for online video, showing popular content from publishers like BuzzFeed and Vice and a growing number of user-loaded clips. Now Facebook is considering going after another piece of YouTube’s signature turf: music videos. In recent weeks, Facebook has held preliminary discussions with the major record companies, seeking licensing deals to insert music videos into Facebook users’ feeds, according to four people briefed on the talks who spoke on the condition of anonymity. According to these people, Facebook has proposed adding a limited number of music videos, all of which would be chosen by the labels, to the feeds. Facebook has told the labels that it wants to begin adding the videos in coming months and monitor their performance through the end of the year, these people said. Facebook would share advertising revenue with the labels according to terms that have not yet been set.