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Facebook Tries to Offer Music Labels a YouTube Alternative

  • Social network seeks accord for user videos, and possibly more
  • Music clips could lure ads away from $70 billion TV industry
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Facebook Woos Music Labels in Battle With YouTube

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A parade of up-and-coming musicians from Universal Music took the stage at the Ace Hotel in downtown Los Angeles Saturday in a pre-Grammy Awards performance for a room full of the executives who will make or break their careers.

Talent bookers from James Corden’s late-night show, marketing executives from top brands and executives from Spotify Ltd. and YouTube looked on. Sandwiched in between tables for Apple Inc., an imposing player in online music, and Pandora Media Inc., owner of the world’s largest online radio service, sat executives from a new act trying to break onto the scene: Facebook Inc.