Facebook As a giant of social networking sites, recently signed a new agreement with the Universal Music Group, which includes all social media and Facebook products, including Instagram and Oculus. The announcement of the Universal Music Group and YouTube was also announced early this week.
Facebook seeks to establish its best practices in this segment, along with its growing video platform, through the use of royalty agreements. Michael Nash, head of Universal Digital All-in-One Music Community Group, said about this new agreement:
This partnership will be a prime and fair step for Facebook and will strengthen the music producers. We are looking to turn Facebook into a healthy ecosystem in the music arena, which will benefit the owners, fans and investors.
As stated in Michael Nash’s statement, much emphasis has been put on the fairness of the deal. The existence of an appropriate right of use agreement will create a platform for the satisfaction of artists and companies to work together without having to share their rights. The contract is set to include Instagram and videos uploaded to its story.
It’s not yet clear how this agreement will be implemented in the Facebook ecosystem. According to experts, the new all-new deal with Facebook and Facebook Youtube To prevent financial failures and the development of lateral products. Facebook will also have more control over the user-generated content with this new contract; in recent years, Facebook has been forced to remove a lot of video content due to copyrights, but this agreement will be able to reduce the pressure on this giant social networking community. Was.