The signing of this licensing agreement by Sony/ATV Music Publishing and Facebook was officially announced on January 8, which is a good way to kick off the New Year. The Sony/ATV publishing company is comprised of over three million songs, and Facebook has over two billion monthly active users. Most important, this license allows Facebook users to upload and share music, as well as music videos from artists that are signed by Sony/ATV, and users are able to personalize their musical experiences with songs from these catalogs.
Both corporations (Sony/ATV Music Publishing and Facebook) inked this multi-territory, multi-year deal, which will allow songwriters to earn royalties for the music when placed on such social media platforms as Instagram, Oculus and Facebook.
This marks the second major that deal Facebook has inked with a music licensing company. In December of 2017, Facebook signed a multi-year deal with Universal Music Group with regard to its publishing catalogs and its recorded music.
Martin Bandier, the CEO of Sony/ATV, noted that he is stoked in signing this agreement, since it recognizes the value that music brings to Facebook; moreover, their songwriters will benefit from their use of their music on Facebook. “We are looking forward to a long and prosperous relationship,” Bandier said.
The head of music business development and partnerships of Facebook, Tamara Hrivnak, echoed Mr. Bandier’s remarks, in that Facebook is excited to work with the largest music publisher in the world, Sony/ATV, in an effort to bring “amazing songs” that deepen the connections between fans and friends. Hrivnak subsequently praised Sony/ATV for being a leader and champion of writers in digital space.
