Facebook was initially created as a way for friends and families to keep in touch with one another. Several years later, the social media giant has evolved and become the main source of entertainment and news. People can now earn a significant amount of money creating video content for Facebook.
However, videos are usually associated with piracy and it has become a major problem for the social media platform.
Facebook has had enough and it plans to fight piracy by acquiring a startup company called Source3, which specializes in trademarks, intellectual property, and copyright.
Facebook has gained Source3’s technology as well as some of its talents.
Facebook’s problems with piracy
Video content is a very lucrative industry for the social media platform, which is why Facebook wants independent content creators to share their creativity through its News Feed. Facebook even hired CollegeHumor co-founder, Ricky Van Veen, to expand his material through Facebook.
However, content creators also need to get paid, and piracy has become their main problem with the platform.
Prior to the acquisition of Source3, Facebook tried to fight piracy by introducing software called Rights Manager. It’s a tool that allows content creators to add a fingerprint of sorts to their material. This means that the original creator of the video can still earn revenue if that video is shared by someone else.
The creator also has the option to block uploads of its content to Facebook.
Google’s video-sharing platform YouTube also has a similar technology called Content ID.
Facebook teams up with Source3
According to a report by CNBC, Facebook was able to acquire Source3 for an undisclosed amount. As a start-up company, Source3 was founded in 2014 and has reportedly raised almost four million dollars in venture capital funding.
Source3 was initially a 3D printing rights management company but eventually decided to extend its market to digital entertainment. The company is also capable of identifying unapproved appearances of brands with the help of Facebook’s Rights Manager tool.
With Facebook’s two billion monthly users, it’s no surprise that it has become the ideal platform for content creators to share their material.
What are your thoughts about Facebook acquiring Source3? Do you think it will be enough to fight Video Piracy? Let us know in the comment section down below and don’t forget to like and share this article.
