Facebook is reportedly talking to music labels with a view to getting into the streaming business.
With Apple Music launching this week, it could be the turn of another tech giant to get into the music streaming game.
According to sources of The Verge, Facebook is in early talks with major music labels about “getting into music.” Apparently, the social network has spoken to Sony Music Entertainment, Universal Music Group, and Warner Music Group.
As stated, those talks appear to be at a very preliminary stage right now, and it’s unclear precisely what Facebook’s intentions are in the ultra-competitive music space. Indeed, it seems as if Facebook itself doesn’t have a clear idea as to what it wants to do.
It’s clear why the social network would want to do something in the music field, of course. Its main target with any new service it launches is to drive engagement among its 1.44 billion users. The longer people spend on Facebook, the better it is for the company.
Music is an obvious way to get people interacting with their Facebook accounts even more. Facebook has already ventured into video, so it would make sense to include the other main media type at some point.
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In fact, one source reckons that Facebook may well involve its video service in its music plans in a bid to create something unique. We might not get a straight up music streaming service from the social network, in other words.
As the report points out, all of Amazon, Apple, Google, and Microsoft offer their own music streaming services. Facebook is the only member of the ‘big five’ not to offer such a service at present, so watch this space.