Facebook Reportedly Primed to Launch Music Streaming Service

Social media giant Facebook is reportedly set to launch an ultra-modern music streaming service – a move that will obviously welcome a stiff competition with the like of Spotify, Tidal, Apple Music, Pandora and more.

Music Ally has reported that a close source revealed that strategic plans are still being taken by Facebook to ensure a level playing ground between them and the music rights-holders.

Music Ally has also published that Facebook will be expanding to music videos streaming and are in advanced talks with a third party to launch the service which will be ahead of YouTube.

“We have all been really utilising it in internal testing. It is way, way ahead of YouTube,” a source said.

The video streaming will give an opportunity for monetisation, feature ads in between videos and it will be available in months, GlammyNews.com can confirm.

Revenue from the play ads in between videos will be shared between Facebook and the rights-holder(s) at 45% and 55% of the revenue respectively.

However, it is for now not clear whether Facebook will build a website for the service from the scratch or buy an already-built music service like Spotify or Tidal.

Analysts have argued that this will make Facebook a force to reckon in the music streaming service with regards their record-breaking social media visits.

Source: Yaw Sarpon/GlammyNews.com/Ghana


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