Facebook today has closed another major licensing deal, this time with Global Music Rights, giving the social media giant access to hits from Pharrell, Drake, and more. Facebook also signed a deal earlier this week with Sony/ATV, bolstering its content offerings.
Most notably, Bloomberg notes that Facebook’s deal with Global Music Rights is important as the group has criticized YouTube for not appropriately sharing revenue with songwriters and artists.
Facebook also closed a multi-year licensing deal with Sony/ATV this Monday that will allow users to freely upload and share video from the company’s artists on Facebook, Instagram, and the Oculus Rift platform.
At the end of last year, Facebook also inked a multi-year deal with Universal Music Group. Bloomberg says that Facebook still won’t have a comprehensive licensing catalog with these deals, but the social media service is certainly making some quick progress.
This past summer Facebook unveiled its Watch platform to offer a range of video and TV content while also blending in a strong social component. Watch also showcases Facebook’s original content, increasing its competition with YouTube, and other platforms.
