After years of artists, songwriters and publishers not getting paid for songs being used in videos posted to Facebook, the ship is starting to right itself.
It’s not a perfect licensing agreement, but it’s a start. The full details weren’t disclosed in Facebook’s press release but EVP of Digital Strategy for Universal Music Group, Michael Nash made the following statement:
“Together, Facebook and UMG are creating a dynamic new model for collaboration between music companies and social platforms to advance the interests of recording artists and songwriters while enhancing the social experience of music for their fans,” Nash stated.
He goes on to say, “This partnership is an important first step demonstrating that innovation and fair compensation for music creators are mutually reinforcing – they thrive together. We look forward to Facebook becoming a significant contributor to a healthy ecosystem for music that will benefit artists, fans and all those who invest in bringing great music to the world.”
This is big news as YouTube and Spotify recently reached deals with UMG as well. The eco-system and digital pirating frustration is starting to evolve to reach fair compensation for all. Good things are ahead, we hope.