Story Of The Week
Facebook In Talks with Major Labels for Music Video Trial
Music videos are Facebook is looking to pull music video views away from YouTube as it pilots a new video platform. As Variety reported, the ad revenue split would mirror YouTube’s — 45 percent to Facebook, 55 percent to rights holders.
A source with knowledge of the talks told Billboard the social networking giant wants to conduct a test run through the end of this year, with selected music videos — chosen by the labels — being presented in the main news feed of users. Facebook is, of course, trying to siphon ad revenue away from Google by offering content creators its own native option.
Billions of videos are viewed online each day. Using social data gathered from its network, video-based ads on its site could prove more lucrative than YouTube ads. If so, it likely won’t take long before all the major and independent labels are on board.
Other Important Headlines
Apple Music Launches To Great Applause On Its First Day… The music streaming platform impresses with human-curated playlists, the Zane Lowe-headed Beats 1 radio station, and artist social connectivity. Read More
…And Then Is Quickly Judged Unimpressive By Many Pundits – Tech writers and industry alums generally point out Apple Music’s desire to be all things music as a flaw rather than a strength. “Subscription services have to make it braindead simple to discover new music and build or replicate a beloved collection.” Read More
UMG-backed Study Finds Recording Sales Would Be 17x Higher Without Piracy – Even with Apple Music’s launch and the success of music streaming overall, record company revenue is still a fraction of what it once was. The study found that a “Piracy D-Day” would lead to an explosive renewal of record sales if successful. Read More
U.S. Music Streaming Market Worth $2.7 Billion By 2019 – As physical and digital album and track sales are plummeting, the music streaming market is growing by leaps and bounds, reaching revenues of $799.0 million, equivalent to 73% of the market’s overall value. Read More
Prince Removes Music From Most On-Demand Streaming Services, Except TIDAL – Prince, an outspoken anti-streaming advocate, quietly removed his entire catalog from major streaming services, with one notable exception: TIDAL. It isn’t immediately clear why it (or Pandora) still carry his catalog. Read More
On Saturday June 27th, music lost one of its most provocative and pioneering bassists in Yes’ Chris Squire. He was a transformative player who redefined bass for a generation of players. He will be missed.