Facebook parent company Meta Platforms and Universal Music Group (UMG) announced on Monday that they have agreed on an expanded licensing deal aimed at creating new opportunities for artists represented by Universal on the Meta social network, Reuters news agency reported on Monday.
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“UMG was the first major music company to license to Facebook in 2017, and this new agreement will further expand music opportunities within the meta ecosystem,” Universal said. In a Reuters report Quoted. The world’s largest music label represents artists such as Taylor Swift and Billie Eilish. It said the agreement covers all of Meta’s major social platforms, including Facebook, Instagram, Messenger and, for the first time, WhatsApp. According to UMG, the renewed agreement also governs the issue of compensation for performing artists, composers and librettists.
Agreement with TikTok too
Also in late July, Universal announced it had ended a partnership with Meta for premium music video streaming. According to the music company, videos are less popular among Facebook users than other music products.
In early May, Universal settled its music licensing dispute with TikTok. The two companies agreed on a new deal. This means that many songs by artists signed to Universal are back on the video platform. From now on, TikTok will help with marketing.
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