Universal Music Group (UMG), headquartered in Santa Monica, has entered a global, multi-year agreement with Facebook under which UMG becomes the first major music company to license its recorded music and publishing catalogs for video and other social experiences across Facebook, Instagram and Oculus.
The partnership, announced Thursday by UMG and Menlo Park-based Facebook, will allow users to upload videos that contain licensed music and personalize their music experiences on Facebook, Instagram and Oculus, while sharing videos with friends and family.
The companies said in a statement that the new functionality will enable access to a vast library of music across a series of social features. They also plan to introduce new music-based products to Facebook platforms, including Messenger.
“Together, Facebook and UMG are creating a dynamic new model for collaboration between music companies and social platforms to advance the interests of recording artists and songwriters while enhancing the social experience of music for their fans,” Michael Nash, UMG executive vice president of digital strategy, said in the statement. “This partnership is an important first step demonstrating that innovation and fair compensation for music creators are mutually reinforcing.”
Media and entertainment reporter Diane Haithman can be reached at firstname.lastname@example.org. Follow her on Twitter @dhaithman.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Silicon Beach Report Dec. 22: CNN Cancels Snapchat Show Due to Unclear Path to Profit
- Spotify, Universal Music Agreement Offers Album First Dibs to Subscribers
- T Group Productions Acquires Big Boots Studios, Launches Digital Studio
- Songtradr Raises $4 Million in Series A Funding Round
- Paul Rosenberg Named CEO of Def Jam Recordings
- Kunlun Group Limited Completes Acquisition of Grindr
- Entertainment Weekly to Move to Los Angeles
- Sony Pictures Television to Acquire Funimation Productions Ltd.