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COMING UP:Share Opener Variant 2

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Transcript

00:00:00
>> Facebook announced on Thursday a global licensing deal with Universal Music Group. That will now allow users to upload videos with music from Universal's library across the social media network. And they won't be taken down. Reuters media correspondent, Jessica Toonkel.>> This is Facebook's first major deal with a major record label.
00:00:20
And what it allows it to do is it no longer has to pull down any video a user posts that has music from Universal. So let's say someone got married and there's music in the background and that was a Universal artist. Facebook would have had to pull that down, so it creates a better experience.
00:00:37
The other piece of this is there's a strategic piece. Music videos are the most popular genre on YouTube, Facebook's biggest competitor in digital video. So by having an agreement like this, and you would assume they're gonna have similar agreements with other record labels. They'll be able to have music videos on their site.
00:00:55
>> The partnership comes days after reports that YouTube signed a long term agreement with Universal and Sony Music Entertainment. Earlier this year, Facebook launched it's Watch video service. Which features shows from Discovery, and sports, like Major League Baseball. With the new deal, Facebook will now be able to feature music videos.
00:01:13
Which could help Facebook better compete with Google for ad dollars.