With seemingly everyone launching new music streaming services these days, it seems that Facebook is interested too. According to recent reports it’s held talks with major record labels about getting in on the action. The social media giant has spoken with Sony Music Entertainment, Universal, and Warner about its interest in music, but apparently it’s still early days. The assumption is that Facebook wants to launch a streaming music service, but sources say that Facebook has not yet decided what it wants to do…
But why would Facebook be interested in music? The answer is user engagement. People already spend a lot of time using it, over 40 minutes a day in the US for example, but those numbers should increase if your music was tied into the service. One possibility is that Facebook’s video platform may also play a role in its plans, and the company reportedly wants to do something unique…
With the growth of Facebook Video, it’s not surprising that Zuckerberg and chums would be interested in other forms of entertainment. The company has previously partnered with Spotify for instance to help it launch in the US. Facebook has also tried to integrate music into its service several times, putting listen buttons on artist pages for example.
Amazon, Apple, Google and Microsoft all have their own music services, which leaves Facebook rather alone among tech’s biggest five companies. With more than 1.4 billion users and almost 800 million mobile users every day, Facebook could easily match the reach of Apple Music,
Amazon, Apple, Google, and Microsoft all offer their own music services, leaving Facebook as the outlier among tech’s five biggest corporations. With 1.44 billion users and 798 million mobile users on the service every day, Facebook can potentially match the reach of Apple Music,which has more than 800 million credit cards on file. With that reach, Facebook is one of the tiny number of companies that could disrupt the market, if it decides to build a streaming service at all.
SOURCE: The Verge.