Published
Wed, Sep 6, 2017, 16:29
- The offer comes as negotiations continue on a system that would identify music in videos uploaded by users.
Music labels and publishers may receive "hundreds of millions of dollars" from Facebook as discussions continue around music rights on user-uploaded videos, according to a report.
Bloomberg say that the social media firm's long-term goal is to establish a system that automatically identifies songs that accompany clips uploaded by users. That may take up to two years to build, so Facebook is tabling the money to appease copyright holders.
In December last year, the Financial Times reported the development of this system after pressure from the music industry. In 2016, YouTube paid $1 billion to music rights holders, though the Google-owned firm has been accused of underpaying artists compared with rivals such as Spotify and Apple Music.
Facebook Watch, the platform's new dedicated video service focusing on original TV programming, was launched in the US yesterday.
Resident Advisor has contacted Facebook for comment.