It’s being reported that Facebook – the world’s largest social network – is taking concrete steps to making music more a part of it’s platform than ever before. The news of the company’s acquisition of Source3, a digital media rights company, Source3 analyzes user generated content for any use of branded intellectual property – basically making sure rights holders will get paid if their work is being used in media online.
Although Facebook hasn’t really been pushing music on it’s platform heavily, that may be starting to change. Beyond buying out Source3, they hired Tamara Hrivnak to become their head of music strategy early this year. They’re also looking for a Music Business Development Manager right now.
The company hasn’t been too big on pushing music because it’s rights management infrastructure hasn’t offered much advantages over YouTube’s Content ID. This latest aquisition, however, may be one big piece to the Facebook music puzzle.
According to Music3Point0.com:
There’s also been rumblings that should Facebook work out it’s rights management issues, then the Vevo channel (owned by Sony Music and Warner Music Group) might even switch from YouTube to Facebook, although that’s a long shot since the channel is also partially owned by Google (who owns YouTube) as well.
Vevo on Facebook? That would be a very interesting thing. One thing is certain, if Facebook’s existing track record is any indication of how the company will approach music we may be looking at a game-changer.