Writes Lucian Grainge, "Our deal with Facebook leverages... the wealth of data we've amassed to win both greater flexibility as to how our music is offered to the public."
Prepare to experience new ways to share music on Facebook as the social media giant has announced an unprecedented licensing deal with Universal Music Group. The global, multi-year deal makes UMG's recorded and publishing catalogs available for videos and what they're calling "other social experiences" across Facebook and its wildly popular photo-sharing service Instagram, as well as the A.I.-based Oculus brand.
In an internal memo on Thursday, UMG's chairman/CEO Lucian Grainge told staff: "As with our deal with Spotify earlier this year and our license renewal with YouTube, our deal with Facebook leverages the experience we've gained and the wealth of data we've amassed to win both greater flexibility as to how our music is offered to the public as well as fairer compensation for our artists -- as we continually refine the balance between direct promotion and monetization."
The companies explained that the partnership will give Facebook and Instagram users the ability to upload and share videos that contain licensed music. "In time," a press release on the partnership noted, "functionality will expand to enable access to a vast library of music across a series of social features."