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."
At last count, Facebook had more than 2 billion monthly users, while Instagram had 800 million-plus. Sony/ATV oversees a catalog of more than 3 million songs, and has spent most of the last five years as the No. 1 publisher in the music business.
"We're excited to work with the largest music publisher in the world to bring amazing songs which deepen connections between friends and fans," said Tamara Hrivnak, head of music business development and partnerships at Facebook, in a statement. "Sony/ATV is a true leader and an absolute champion of writers in the digital space, and we’re thrilled to work with them as they grab new opportunities by the horns across all of our platforms."
Late last month, Facebook announced a licensing deal with Universal Music Group, making its recorded and publishing catalogs available for use across the platform. Other major publishing entities include Warner/Chappell Music, BMG and Kobalt.