In this day and age, you could throw a rock and hit a number of music streaming services. From Play Music All Access to Apple Music with services like Spotify, Slacker, Rdio and iHeartRadio — to name a few — there’s no shortage of streaming platforms to choose from. So it would seem silly, you’d think, for anyone else to want to jump into an already saturated market. Well if you thought so, you’d be joining me in being wrong as rumor has it, Facebook is flirting with the idea of creating its own music streaming service.
According to Eamonn Forde of Music Ally, anonymous sources suggest that a Facebook music-streaming service is being worked on to take on other services like Spotify, Google Play Music, Groove Music (formerly Xbox Music), and the newly-released Apple Music. Though the service is only in the initial stages of development, Facebook appears to be preparing to launch music videos on its social network sometime within the next few months or so.
Much like YouTube and its music videos platform, Facebook would operate in much the same way with the social media giant paying royalties to rights holders and will create a registration system so that their content will be less likely to be pirated. On a competitive front, it’s said that Facebook will launch the service with royalty rates that match that of YouTube’s.
The anonymous source told Music Ally that the music video plans of Facebook’s are at an “advanced stage” and “way ahead of YouTube.” It would also be an experiment for Facebook and how the company enters the music streaming industry could parallel the technique they use going into the music-video market.
However, if the company has plans for just such an entry, it’s not saying anything as a Facebook spokesman said, “We have no plans to go into music streaming.”
Personally, it’ll be interesting to see if Facebook will offer something different, assuming it’s actually working on such a service because with all the the current streaming services offering similar features to one another, a service needs something big to differentiate itself these days. What about you? Does a Facebook music streaming service interest you? Let us know below or on any of our social media accounts.
[button link=”http://www.businessinsider.com/facebook-rumored-to-be-building-music-streaming-service-2015-7″ icon=”fa-external-link” side=”left” target=”blank” color=”285b5e” textcolor=”ffffff”]Source: Business Insider[/button]
Last Updated on November 27, 2018.