In talks with record companies, according to Bloomberg.
Facebook’s video service is called Watch. Until now, the commitment has not been so clear, but according to Bloomberg, it will soon be ready for music videos on the service.
There is fierce competition for our attention. Among the leading battle cocks are Facebook and Google, which with slightly different products dominate the screen time. Bloomberg now reports that Facebook is immediately ready to announce that they have reached an agreement with the three major record companies to show music videos.
Music videos are already one of the most important content on Youtube, and the viewing figures for this genre have increased rapidly during the virus pandemic. Facebook has its own video service, known as Facebook Watch, and they already have agreements on the use of music in shared videos. So now music videos should be on their way to the service.
Facebook itself did not want to comment on the case.
Would pay for the video production
Bloomberg’s anonymous sources also say that Facebook should have wanted exclusive videos for its service, a bit in the same way that some songs are sometimes released exclusively on Tidal or other streaming services. Facebook is even said to have offered to cover the production costs for the music videos.
Facebook Watch is relatively new in a part of the online industry that is dominated by Google (Alphabet) and Amazon. Youtube and Twitch have billions of users, and have existed since 2005 and 2011. Facebook opened its video service only in 2017, and in this country only the service has been open for almost two years.
Facebook’s aggressive services
The Mark Zuckerberg company’s extensive business has been eating into various areas, often after acquisitions or imitation of other businesses. Over the years, Facebook has bought both Instagram and Whatsapp for large sums, and they did their best to buy Snapchat for a long time. If they do not want or are not allowed to buy up their competitors, the strategy is to create similar products in the hope of outcompeting the newcomers. Examples of this are the stories function in Instagram and Facebook, which are similar to the same function in Snapchat, and the Lasso initiative, which was recently closed.
Lasso was an attempt to make a variant of Tik Tok for markets where the Chinese original had not already been established.
What do they want with the Watch?
To be relatively aggressive and clear when entering certain areas, Facebook has been less clear about the Watch service. It has so far existed «only» as the place you come to if you click on a video in your Facebook feed, and apart from bringing up a video playlist that can continue to play, Watch is relatively little clarified in apps or marketing as a service in itself.
In January this year, two and a half years after launch, Mashable wrote a case stating that people still do not know exactly what Facebook Watch is. The starting point was that Facebook at the time should have withdrawn from the search for original content, and the article was spiced with Twitter and Instagram posts from people who wonder what Facebook Watch is. The publication asked the question whether Facebook at all knew where they wanted the service itself.
Back at Bloomberg, they focus on the fact that the Facebook boss himself has hinted at the way forward. Zuckerberg is said to have said that the company is expanding towards video, where the creators of these videos can build a community with their fans, and not just collect views. This is harder to do on sites like Twitch and Youtube, according to Zuckerberg.