[u] Facebook Music Streaming Service to Compete with Apple Music [Rumour]
It looks as though the music streaming industry is attractive enough for tech companies: Following Apple’s move into the ring, Facebook has now stepped in, at least according to sources familiar with the matter who secretly unveiled the social media giant’s ambitious plans to Music Ally. Facebook is looking to launch its own music streaming service within the next few months.
But Music Ally can reveal that while Facebook will expand that trial to music videos soon, the social network is planning to follow that with the launch of an audio music-streaming service to compete with Spotify, Apple Music and others.
Sources have told Music Ally that an audio service is very much on Facebook’s roadmap, but that both the social network and rightsholders realise that it has to get the monetised-video service right first. Again, the performance of the content ID and protection system will be a crucial factor.
There are some open questions, though, about systems such as YouTube’s Content ID, which is a useful tool for content owners to easily identify and manage their content on YouTube. Facebook currently licences a Content ID-like system from a third party instead of building their own in-house, as labels are eager to be sure that the system is reliable and efficient.
It remains to be seen what strategy Facebook will adopt: Will it acquire one of its smaller rivals, or build its own system? MusicAlly’s sources suggest that this audio-streaming system is already in the works (in-house), but this could be subject to change.
Update: Facebook says it is not building a music streaming service. A Facebook spokesperson told The Verge, “we have no plans to go into music streaming.”