UMG and Meta sign expanded deal on music monetisation
The latest agreement expands monetization opportunities for Universal Music’s artists and songwriters, including licensed music for short-form videos.
On Monday, the world’s largest music label, Universal Music Group (UMG), announced an agreement with Meta Platforms to create new opportunities for artists and songwriters on Meta’s social platforms. The multi-year global agreement includes Meta’s major platforms – Facebook, Instagram, Messenger, and WhatsApp.
The joint statement states, ‘The new agreement reflects the two companies’ shared commitment to protecting human creators and artistry, including ensuring that artists and songwriters are compensated fairly. As part of their multifaceted partnership, Meta and UMG will continue working together to address, among other things, unauthorised AI-generated content that could affect artists and songwriters.
In 2017, UMG and Meta Platforms signed an agreement to license UMG’s music catalogues for use on Facebook’s platforms, thereby creating a new revenue stream for artists to generate income from user-generated videos, as there was no way to monetise this previously, and artists had to rely on complicated legal proceedings to remove unlicensed content. The latest agreement further expands monetisation opportunities for Universal Music’s artists and songwriters, including licensed music for short-form videos.
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