Facebook, Sony Music Inks Another Deal

Facebook has signed a deal with Sony Music/ATV Publishing that will enable the social network’s users to upload and post videos of songs from artists such as Taylor Swift, Drake and Kanye West.

According to The NYPost, the multiyear agreement, which kicks in immediately, is the second major partnership between Facebook and a major music company. Last month, Facebook linked up with Universal Music Group, and is also said to be in talks with Warner Music Group.

Under the agreement, users will be able to upload and share videos on Facebook, Instagram and Oculus that contain compositions licensed from Sony/ATV’s massive catalog.

In the Sony deal, Facebook users will have access to more than 3 million songs, giving Sony’s songwriters the opportunity to earn royalties from the use of their music on both Facebook and Instagram.

Pivotal Research analyst Brian Wieser said Facebook’s plunge into music videos looks like yet another ploy to keep users glued to its site as growth slows.

“If you’re Facebook, you realize that if you want people to consume content, you need music,” Wieser said.

Sony’s marquee talent includes The Chainsmokers, Pink, Ed Sheeran, Sia, Sam Smith and Pharrell Williams. Sony also represents the songs of legends such as The Beatles, Leonard Cohen, Bob Dylan, Michael Jackson, Carole King and Queen.