And, according to Bloomberg, Facebook is now offering the record companies and music publishers hundreds of millions in advances. Despite this the music industry is starting to recoup some of the loses it has made thanks to the rise of music streaming services so a deal that could net it millions simply to allow users to include popular music in their videos makes a degree of sense.
Music industry executives also hope licensing songs for user-generated video on Facebook will place greater pressure on YouTube to behave.
Due to this, many record labels, in particular, have often submitted requests to Facebook to have certain popular videos without these music rights taken down from the platform if they were still up. Numerous videos that are uploaded to Facebook on a daily basis feature music that Facebook doesn't have the rights to. However, YouTube is a formidable opponent, to say the least, if Facebook wants to steal the crown, they better prepare for a war. However, it would reportedly take two years to build and roll out. But so far, Facebook Watch looks like a sparse version of YouTube, with very few options and cringeworthy clickbait videos like, "Talking Sexy in Chinese", where a woman learns how to call her husband good-looking in Mandarin Chinese, and "Funeral Prank" where people are scared by a moving corpse at a funeral.
Creating a Facebook video is one thing, but publishing it is another. Vivendi SA's Universal Music Group, owner of the world's largest record label, reported a 15.5 percent increases in sales in the most recent fiscal quarter, while Warner Music Group, owner of the third largest label, reported a 13 percent increases in sales. Given the current legal framework for copyright online, users are going to upload video with infringing material no matter what.More news: Takeaways From Raghuram Rajan's New Book