Billboard and the New York Times reported that Facebook is working on setting up deals with major record companies to put music videos in your Facebook News Feed. The objective is to capture a share of the market that has been long dominated by YouTube.
Facebook has held preliminary discussions with multiple labels over the past few weeks and is planning to insert videos selected by record companies in upcoming months. Facebook reportedly plans to share ad revenue with the record labels, although terms with labels have yet to be finalized. Billboard reports that Facebook is offerering the same split (45 percent to the social network and 55 percent to the right holders) but the New York Times says Facebook offered better deals than YouTube, and offered to handle unauthorized content faster than YouTube currently does. This may make it a more attractive place to debut new videos.
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