UMG partnership8 Jan 2019 17:01
Michael Nash, Executive Vice President of Digital Strategy, Universal Music Group, said, “Together, Facebook and UMG are creating a dynamic new model for collaboration between music companies and social platforms to advance the interests of recording artists and songwriters while enhancing the social experience of music for their fans. This partnership is an important first step demonstrating that innovation and fair compensation for music creators are mutually reinforcing – they thrive together. We look forward to Facebook becoming a significant contributor to a healthy ecosystem for music that will benefit artists, fans and all those who invest in bringing great music to the world.”
Under this partnership, users will be able to upload videos that contain licensed music and personalize their music experiences on Facebook, Instagram and Oculus, while sharing videos with friends and family. In time, functionality will expand to enable access to a vast library of music across a series of social features.
Going forward, the companies will experiment hand-in-hand to introduce new music-based products to these Facebook platforms, including Messenger, with the goal of catalyzing innovation to develop the next generation of music products that best engage social consumers.
Being in bed with UMG and Facebook's group seems pretty positive to me.