Facebook has signed another multi-year licensing deal with a major music company –Sony/ATV Music Publishing.
The news comes just two weeks after Universal Music Group announced that it had inked an agreement with the social media giant, which draws more than 2bn users every month to its core platform.
Sony ATV’s multi-territory, multi-year deal covers a catalog of more than 3 million songs, including those by frontline clients such as Taylor Swift, Ed Sheeran, Drake (pictured), The Chainsmokers, Sam Smith, Sia and Kanye West.
Sony/ATV said in a press release that deal provided its songwriters “with a unique opportunity to earn royalties from the use of their music on both Facebook and Instagram“.
Under the agreement, users will be able to upload and share videos on Facebook, Instagram and Oculus that contain compositions licensed from Sony/ATV’s catalog as well as personalize their music experiences with songs from the catalog.
“We are thrilled that in signing this agreement Facebook recognizes the value that music brings to their service and that our songwriters will now benefit from the use of their music on Facebook.”
Martin Bandier, Sony/ATV
Sony/ATV Chairman and CEO Martin Bandier said: “We are thrilled that in signing this agreement Facebook recognizes the value that music brings to their service and that our songwriters will now benefit from the use of their music on Facebook. We are looking forward to a long and prosperous relationship.”
Tamara Hrivnak, Head of Music Business Development and Partnerships, Facebook said: “We’re excited to work with the largest music publisher in the world to bring amazing songs which deepen connections between friends and fans.
“Sony/ATV is a true leader and an absolute champion of writers in the digital space, and we’re thrilled to work with them as they grab new opportunities by the horns across all of our platforms.”Music Business Worldwide