18
Aug
Facebook reportedly in talks with major record labels to host music videos; YouTube retaliates with promise of subscription-based music service
The mammoth social media channel will be hosting native music videos in users’ news feeds, with Facebook making haste in licensing deals with major record labels so the pilot can kick off as soon as possible. With its users watching 4 billion videos per day, Facebook is hoping to wrestle away YouTube’s dominance of video and the ensuing ad revenue it can generate. While just yesterday, YouTube hit back announcing it will launch its own subscription music service to stave off competition. The music video sector is unequivocally huge, making up by far YouTube’s most popular content: of the site’s top 30 most-viewed clips, all but three are official music videos.
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