Sony/ATV Music Publishing and Facebook have completed a multi-year licensing deal that will allow users to share videos on the social network and its popular Instagram service, giving songwriters a long sought after path to generating more royalties.
Under the agreement, which covers multiple territories, users of Facebook, Instagram and Oculus will be able to upload and share videos containing songs in the Sony/ATV catalog -- which includes artists ranging from The Beatles to Michael Jackson to The Chainsmokers. Social media users will also be allowed to use Sony/ATV-administered tracks to "personalize their music experiences" across their profile pages.
"We are thrilled that in signing this agreement Facebook recognizes the value that music brings to their service and that our songwriters will now benefit from the use of their music on Facebook," Sony/ATV chairman/CEO Martin Bandier said in a statement. "We are looking forward to a long and prosperous relationship."