Facebook stated that it has reached a license agreement with Universal Music Group which will give users the right to post and share music on the social media network.
The multi-year deal will effectively solve all copyright issues raised by artists which have complained about the unauthorized use of their materials by users of the site.
The deal is Universal’s second feather in less than a week. The company has recently signed a multi-year partnership with Google’s video streaming site, YouTube.
The company, which represents major artists such as Taylor Swift and rapper Jay-Z, has had a number of showdowns with Facebook in the past over users posting unauthorized covers of their artists’ songs.
Commenting on the deal, Universal Music Group’s executive vice president of digital strategy Michael Nash said, “Together, Facebook and Universal Music Group are creating a dynamic new model for collaboration between music companies and social platforms to advance the interests of recording artists and songwriters while enhancing the social experience of music for their fans”.
The companies have also stated that “in time” users will be granted access to a “vast library” of music on Facebook’s site. The deal will cover Facebook along with its acquisitions Instagram and Oculus.
The firms are also working on a range of products for Facebook’s messenger service, Facebook Messenger.
Sources believe that Facebook made the deal in a bid to compete with Universal’s newest partner, YouTube. The deep seated rivalry between the two websites has come into the front in recent times with Facebook encroaching onto YouTube’s video-sharing territory.