Facebook planning Apple Music competitor? (Update: No) | iLounge News

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Facebook planning Apple Music competitor? (Update: No)

Facebook is in early talks to launch its own music streaming service according to a new report by Music Ally. Talks with labels are said to be linked to the company’s trial of ad-supported native videos, which are expected to expand to music videos soon. However, the report claims that the social network has ambitions to follow that up with an audio music service that would compete directly with Apple Music and Spotify, among others. In the shorter term, Facebook plans to monetize music videos with a Content ID system similar to YouTube to pay royalties to music rightsholders while allowing them to identify and take down or claim user-uploaded videos of their music and collect associated ad revenues. A rollout of the music video service is expected “in the next few months” although a specific schedule for the arrival of an audio streaming service is more nebulous, as the report notes that the company has to “get the monetised-video service right first.”

Update: A Facebook spokesperson has denied the report, telling The Verge that the company has “no plans to go into music streaming,” with a source familiar with the matter reporting that “the last thing Facebook wants to do right now is take on Apple in a streaming war.”

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