Facebook Inc (NASDAQ:FB) is secretly holding talks with the music label companies. The world’s largest social network has apparently attracted to what music industry has to offer. According to sources, the company held talks with three major music companies. These companies included Sony Music Entertainment, Warner Music Group and Universal Music Group.
Who Would Influence – Apple Music or Facebook Video?
The recent talks might just seem as an aftermath of successful launch of Apple Inc (NASDAQ:AAPL)’s music streaming service Apple Music. It is clearly possible as the music industry has engaged positively. Facebook might see this as an example of using music as an entertainment industry to engage its users.
The company launched its own video platform this year. And the response and user engagement so far is huge. This might have changed the company’s perspective on the entertainment industry.
Facebook Inc (NASDAQ:FB)’s CEO Mark Zuckerberg recently remarked about the changes in user engagement in web content in near future where he emphasized the importance of rich media experience. The talks with the music industry might be targeted to see if there is a possibility to create a unique service that can allow users to enjoy music right through the social network.
The company has tried using music as a user engagement tool by allowing users to listen to music through artists’ pages. It even explored fm like feature before but no major music update was ever introduced.
The Potential For Success
With billions of people spending their time on the social network every day, the company has a guaranteed chance of success of using a music streaming service. Such a service can also improve the overall time spent by the users on the website. If the number of active users is considered, then Facebook Inc (NASDAQ:FB) easily reach more people than Apple Music.
However, sources say that these talks are not definitive. The company has declined comment. There was no response from Sony Music, Universal Music and Warner Music. It will soon be seen how facebook utilizes this opportunity to engage with music industry.