Facebook is gearing up to battle YouTube

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(SOURCE: SOCIAL MEDIA WEEK)

Facebook is offering the music industry millions to allow its users upload songs in videos. The social media giant is battling YouTube to be the top destination for music videos and other content containing copyright-protected songs.  

The company is reportedly offering music publishers hundreds of millions of dollars to retain the rights to music featured in videos uploaded by users and page owners. Part of that process could involve landing a deal with Vevo, the rights holder to more than 200,000 music videos from top artists and labels around the world. Vevo’s exclusivity deal with YouTube ends this year, giving Facebook an opportunity to negotiate its own deal with the company.

Facebook hopes to build a system for identifying videos with copyrighted content, similar to Google’s landmark Content ID system, that would pave the way for the social network to rival YouTube as the internet’s top-tier video service and, possibly, even a streaming music contender.