Sony/ATV said on Monday it signed a licensing agreement with Facebook Inc that will allow the social media platform’s users to upload and share videos from the music publishing company’s catalog on Facebook and Instagram.
The multi-year deal will allow artists associated with Sony/ATV — whose catalog includes Bob Dylan, Taylor Swift and Ed Sheeran — to earn royalties from the use of their music on the social media platforms.
Facebook’s deal with Sony/ATV follows a similar deal with Universal Music Group in December, to retain users and attract advertisers.
Source: Reuters.com