Facebook has reached an agreement with Sony/ATV Music Publishing that will allow users to post songs from some of the biggest artists in the music industry like Drake, Ed Sheeran, and Taylor Swift.
First reported by Bloomberg, the deal is a multiyear deal between Sony and Facebook that will extend to Instagram as well. This is a big coupe on Facebook’s part, as Sony’s catalog of songs eclipses 3 million. The agreement comes one month after Facebook inked a similar deal with Universal Music Group.
As part of the deal, recording artists will be given a chance to earn royalties from Facebook and Instagram posts.
The newly minted deal will go a long way to curve copyright infringement issues Facebook has been enduring as it tries to build up its video offering. Prior to the deal, if users so much as posted a video with a song owned by Sony playing in the background, their video would be taken down.
Specifics about the deal weren’t revealed, but Bloomberg previously reported Facebook was preparing to pay up hundreds of millions of dollars to land the deal. Facebook is aggressively trying to bring its video service up to par with YouTube’s, but it still has a way to go. It still doesn’t have the rights to host professional music like YouTube, although it is likely working on making that happen behind the scenes right now.
Next up in Facebook’s sights is Warner Music Group, one of the last major music publishers Facebook has failed to strike up a deal with.