Facebook sets eye on YouTube’s music video market

Facebook sets eye on YouTube's music video market

Facebook is now offering official music video launches on its platform via the pages of the artists or the Facebook watch tab.

Four big tech companies are in hot water amid the anti-trust hearing in the U.S. The government is accusing these companies of creating virtual oligopolies that prevent new players from flourishing. The house questioned Apple’s dubious tactics in the App Store. Google was asked about its biased redirection towards Google-owned real estate.

Amazon, on the other hand, was probed about the way it allows fake products on its website. Among the four companies, Facebook had the most questions thrown their way from the members of the House. The majority of it focused on why the company gobbled up competitors left and right in the past years.

All Facebook had to answer was that the companies they acquired aligned with its main competence. As such, there was no method of hostile takeovers or anti-competition tactics used. Despite the scrutiny that Facebook is facing, it is not stopping on its track to dominate.

Facebook offers official music videos

Facebook is dipping its toes into the well of YouTube’s cash cow, music videos. The social media company announced that it will now be a platform of official music videos too. Facebook partnered with the trifecta of Sony Music, Universal Music Group, and Warner Music Group to make this possible.

Facebook sets eye on YouTube's music video market

Now that the social media giant has opened this path, artists may take advantage of the platform even better. Before, sharing of YouTube videos would just produce a preview and a link on Facebook walls. After being clicked, it would redirect to YouTube for the user to watch. It was part of a legal rights deal that prevented Facebook from showing these videos on the platform.

The official music videos may be liked, shared, and commented on like any other videos uploaded on the walls.

Additional revenues

Facebook’s venture into official music videos is to grow its business even further. Bloomberg’s analysis points to the idea that partnering with music labels will just add a new ad revenue stream for the company. Additionally, it even reports that Facebook is willing to shoulder the production costs of the videos for exclusivity.

In other words, Facebook wants to have a first crack on the music videos before Google’s YouTube get their hands on the videos. This just goes to show how much power and control Facebook can command nowadays. Instead of going after the small fishes, it wants some of the pie that Google holds.

Images from Greg Bulla/ Unsplash and CardMapr/ Unsplash

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