Warner Music, Facebook Finalize Licensing Partnership
Thanks to a new deal with WMG, announced in a Facebook post, users of the social network can create, upload and share videos music licensed from the company. WMG and Facebook will also work together to develop new products to "enable users to personalize their music experiences" across Facebook, Messenger, Instagram and Oculus.
“The team at Facebook is creating a truly innovative product and is showing real commitment to its participation in the growth of the music business," said Eric Mackay, EVP, Global Digital Strategy, Warner/Chappell, in a statement. "We’ve taken our time to arrive at the best possible deal, one that recognises the value that music creates on social networks, while empowering our songwriters to reach audiences around the world, in a way that will spark creativity and conversation among their fans."
Ole Obermann, Chief Digital Officer, Warner Music Group, added: “Our partnership with Facebook will help expand the universe of music streaming and create supplementary revenue for artists. Fan-created video is one of the most personal, social and often viral ways that music is enjoyed, but its commercial potential is largely untapped. This collaboration will lead to new possibilities for our artists, while enhancing the user experience across Facebook, Instagram and Oculus, and enabling people to communicate and express themselves using the music they love.”
"When Facebook and music come together, we have the power to bring people closer together, said Tamara Hrivnak, Facebook Head of Music Business Development and Partnerships. "Music brings to life the happy, the sad, the throwback and the funny in all the moments and messages we share with friends. We are delighted to partner with Warner, its artists and songwriters, and welcome them to our platforms."