"We've taken our time to arrive at the best possible deal," says an exec at the label.
Facebook has completed another licensing deal with a major record label, announcing a partnership with Warner Music Group that will make the company's recorded and publishing catalogs available to users of the social media network. Under the agreement, users of Facebook, Instagram, Messenger and Oculus will be able to upload and share videos containing licensed music in the Warner Music and Warner/Chappell catalogs.
The WMG deal follows a similar licensing agreement with Universal Music, as well as like-minded pacts with Sony/ATV Music Publishing, Kobalt Music Publishing, Global Music Rights, HFA/Rumblefish and, most recently, the pan-European rights hub ICE. The deal-athon is all part of Facebook's expanding music strategy to establish itself as a valuable ecosystem for music rights holders.
"Our partnership with Facebook will help expand the universe of music streaming and create supplementary revenue for artists," said Ole Obermann, WMG chief digital officer. "Fan-created video is one of the most personal, social and often viral ways that music is enjoyed, but its commercial potential is largely untapped. This collaboration will lead to new possibilities for our artists, while enhancing the user experience across Facebook, Instagram and Oculus, and enabling people to communicate and express themselves using the music they love."