Tis the season to launch a subscription music streaming service? Not quite, it would seem. Though reports yesterday pointed towards Facebook unveiling its own music service to rival Spotify and Apple Music, the company has now come out to refute the claims.
A Music Ally report had originally suggested that Facebook intended to create a new music sharing service, one with Content ID matching that would ensure copyright and royalty payments for artists were secured and delivered. With Facebook also speaking to music labels recently, it seemed indicative of a move that would see it become another significant name in music streaming, this time with a service built on its world-leading social connectivity platform. Initially, it would begin with video content, before extending to a more traditional music-only option. "We have all been really utilizing it in internal testing," an Facebook source told Music Ally. "It is way, way ahead of YouTube."
But that's apparently not the case. "We have no plans to go into music streaming," a Facebook spokesperson told The Verge, instead claiming that it is working on something brand new, rather than a derivative of an existing service. Facebook meetings with label executives suggest something is afoot though, and with the company's increased focus on atuo-playing videos in news feeds, ruling out some sort of play for YouTube's music video dominance would be unwise. [The Verge]