Facebook is set to make a pace to counter music piracy as they are in talks with record labels and music producers offering hundreds of millions of dollars to allow users of the social platform create videos using copyrighted music.
The negotiation between record labels and music producers has been steadfast for months as reported by Bloomberg News. Both parties are ready to partner and enter into agreement the report states. For Facebook, such an agreement would remove the need for it to take down videos that infringe on copyrighted works and protect it from copyright infringement.
In addition to their on-going negotiations, a tracking software is being worked on by Facebook to flag music that violates copyrights. All awaits the launch of this software which does not have a specific time frame to launch. As the launch is expected several music icons are in murmur to accept that infringing content will be posted regardless of their efforts. They resolve to be compensated than spending their resources tracking down offenders.
This agreement between record labels and music producers will set Facebook to now rival YouTube, a unit of Alphabet Inc.’s GOOG, Google, as the world’s premier user-generated video platform.
Facebook is currently rolling out Watch, its new video hub, and is hoping to generate more dollars in advertising revenue from both professional and user-generated videos. Advertisers would presumably be more comfortable placing video ads if the prospect of copyright infringement was lifted.