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Facebook has signed a multi-territory, multi-year licensing agreement with Sony/ATV, the world’s largest music publisher. The news comes just weeks after Facebook signed a deal with Universal Music Group, the world’s largest music company.
Under the agreement, users will be able to upload and share videos on Facebook, Instagram, and VR platform Oculus that contain compositions in Sony/ATV’s catalog. Like the UMG deal, it’s presumed that DJs and producers will be able to upload and share videos that contain Sony/ATV material, such as mixes, remixes, and routines.
Sony/ATV’s catalog has more than three million songs while Facebook has more than two billion monthly active users. The deal provides Sony/ATV’s songwriters with an opportunity to earn royalties from the use of their music on both Facebook and Instagram.
Sony/ATV Chairman and CEO Martin Bandier said in a press release:
“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 at Facebook, added:
“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.”