Facebook has allegedly made an offering of hundreds of millions of dollars to music publishers and significant music record labels to legalize the usage of music or songs in user-made videos uploaded on the social media platform. There has been a significant growth in uploading and viewing videos on Facebook in recent years. However, many of these videos contain music and songs that the social media platform has no legal rights to.
Bloomberg reports that in keeping with the law, the firms having right over the music and songs featured in those videos will have to ask Facebook to take down them down to avoid infringement of copyright law.
To retain those videos, the company is attempting to get hold of those rights from the music labels in exchange for money.
Facebook negotiates with music labels to gain copyright
Facebook has been in talks with music labels for months to arrive at a solution of this problem. According to Fortune, to ensure that the platform is not encroaching any copyright, it was decided that it will have to develop a system to mark out and tag music that specifically infringes the copyright laws. However, it would take a long time for Facebook – two years – to be exact, to build such an intricate and complex system as a solution to the immediate problem.
According to the sources familiar with the matter, two years is too long for both Facebook and the music owners to wait.
The folks at the firm have come up with a new solution that will end the problems quickly for all parties involved. Bloomberg wrote, "Facebook is eager to make a deal now so that it no longer frustrates users, by taking down their videos; partners, by hosting infringing material; or advertisers, with the prospect of legal headaches."
New deal for music on Facebook videos to roll out alongside the Facebook Watch tab
The new deal between Facebook and the music owners that will legalize use of copyrighted music on user made videos will be rolling alongside the Watch, a new platform within the social media platform to watch videos.
The Facebook Watch tab feature will also stream original content on the social media platform will lure additional revenue in the form of advertising. This will probably challenge contemporary platform, YouTube. During the company’s second quarter earning call, Mark Zuckerberg stated that in the coming years most of the revenue the firm will earn will come through its video streaming business. This will also determine the growth and development of the company.
