Facebook Steps Onto YouTube Turf With Universal Music Deal - Bloomberg

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"The deal sets Facebook up as a more direct competitor to Google’s YouTube, the most popular destination online for listening to music. Both technology giants are battling for a bigger share of people’s time, and music rights could help Facebook give users new ways to engage with its services.

Striking deals with Facebook also gives record labels a way to put pressure on YouTube, which has become a powerful force in the music industry as a marketing tool and a way to introduce new artists. Google’s video site signed its own new long-term agreement with Universal Music, owned by Vivendi SA, and with Sony Music Entertainment this month, promising stronger policing of user uploads of copyrighted songs and paving the way for a new paid service after two years of tumultuous negotiations."

Facebook Steps Onto YouTube Turf With Universal Music Deal - Bloomberg