YouTube has been the platform that has been the first point of streaming music videos and the number one platform for releasing new ones. And just recently, Facebook is reportedly setting up to launch music video streaming in the US, possibly next month. This venture could shake-up Google's YouTube, which is the king of the online music video viewing as of today.
The licensing rights prohibit record label artists from running full-length music videos. However, this would change as Facebook is making a move.
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Facebook Music Video Streaming: How it Works
With Facebook's attempt, instead of page owners linking the music videos or uploading it, they will have a new setting that lets them permit the platform to add their music videos to their page. This would give their fans a chance to watch them on their Facebook page Video tab.
For the past years, artists and singers under contract to major US labels have been restricted in sharing their full-length videos on Facebook by licensing rights. And they could only share a snippet of the music videos. But the platform is working to change those terms.
According to Bloomberg's report, last December, one of the Tech giants was in negotiations with the three largest music companies in the US, namely Sony Music Entertainment, Universal Music Group, and Warner Music Group for artists' music video rights.
Zuckerberg's social networking company has been working with different record labels to integrate various music into Facebook. This includes allowing videos with background music, like vlogging.
The platform has long desired YouTube video might and its profitable ads that can run with clips. Adding music videos to Facebook Watch could make the platform more appealing, as it will be a video destination while giving music companies a new option of an online distributor that could contest YouTube's dominance.
YouTube Monetization During the Pandemic
YouTube has been dominating online free video for years, which would bring over 2 billion monthly visitors to its service. This platform can also produce 500 hours of video uploaded every minute. This also allows superstar artists to rule the most viewed videos.
However, just recently YouTube announced a change in their monetary policy regarding the novel coronavirus or COVID-19. Previously, their advertising guidelines stopped the monetization of videos containing more than a passing mention of the coronavirus. This is to point out it is part of their "sensitive events" policy.
YouTube's policy protects advertisers from being associated with videos about things like armed conflicts, mass shootings, terrorist acts, and global health crises. And now, YouTube is modifying their policy to allow some video creators to monetize their videos on the topic.
YouTube CEO Susan Wojcicki says that they designed the sensitive events policy to apply to short-term events of a significant magnitude.
She stated, "It's becoming clear this issue is now an ongoing and important part of everyday conversation. And we want to make sure news organizations and creators can continue producing quality videos in a sustainable way,"
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