Facebook Steps Onto YouTube Turf With Universal Music Deal
- Multiyear accord lets users upload licensed songs, share music
- Agreement includes music rights for Instagram, Oculus units
This article is for subscribers only.
Facebook Inc. signed a multiyear licensing deal that lets the social network carry songs and artists from the world’s biggest record label, Universal Music Group, across its platforms.
The deal announced Thursday solves a long-running dispute, with Facebook agreeing to compensate the company and artists including Taylor Swift when users post videos that include copyrighted material. The accord includes Facebook, Instagram and Oculus virtual-reality technology, with Universal saying the company would become a “significant contributor” to the industry.