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Facebook Offers Hundreds of Millions of Dollars for Music Rights

  • Would allow users to legally include songs in uploaded videos
  • Social network is challenging YouTube as hub for video on web
Bloomberg business news

Facebook's Plan to Become a Video Hub

Facebook Inc. is offering major record labels and music publishers hundreds of millions of dollars so the users of its social network can legally include songs in videos they upload, according to people familiar with the matter.

The posting and viewing of video on Facebook has exploded in recent years, and many of the videos feature music to which Facebook doesn’t have the rights. Under current law, rights holders must ask Facebook to take down videos with infringing material.