Facebook Watch Is Gearing up to Take on YouTube with Music Video Deals

Facebook has been dreaming to take on YouTube, the largest video streaming service on planet Earth, for years and is at present reported to exist making a major move that will requite its video-on-demand platform, Facebook Watch, a significant boost.

As per a Bloomberg study, the social media behemothic is currently negotiating a fresh music video-centric licensing deal with three major record labels including the Universal Music Group, Sony Music, and Warner Music Group. Facebook already has licensing deals with these tape labels for using tracks past their artists in videos and Stories uploaded to the platform.

If Facebook manages to accomplish a feasible licensing deal with the record labels, offer the company's a more than healthy income source than YouTube, then Facebook Watch could be butting heads with Google'due south video streaming behemothic very presently.

Two sources enlightened of the development revealed that Facebook has already started its music video streaming test in Thailand and Republic of india. A few of united states at the Beebom role have the Facebook beta app, and we didn't encounter whatever specific music video section under Watch.

Bloomberg's written report further reveals that it's not simply Facebook that's pushing to build-out Sentry into a YouTube competitor. Record labels as well desire to see the social media giant come around with an alternative, 1 with higher payout (more revenue) and enhanced copyright protection.

Music videos are a highly consumed content category on YouTube and would simply become a notable bump on a platform (i.east Facebook) that's accessed past over 2 billion users per calendar month. It will exist interesting to see how Facebook goes about the licensing deals and when we can come across a dedicated music section under Lookout.