Facebook has just announced their plans to integrate and monetize music on the platform. You can read their blog here.
The big takeaways:
- It appears that Facebook will soon be opening the door to share ad revenue with content creators and allow copyright owners to monetize user-generated content featuring their music. (Think YouTube)
- They have created a new feature called "Lip Sync Live". which will be a direct competitor to musical.ly. Facebook as signed multi-territory licensing agreements with the majors (Sony/ATV, Universal, Warner, etc.) meaning you should check in with your labels to see if your music will be available for use.
- There isn't a clear timeline for the rollout, but in typical Facebook fashion, it will be gradual beginning in specific test markets before it becomes available to all users.
Feel free to let me know if you have any questions!