Facebook has landed a licensing agreement with Sony/ATV Music Publishing. This deal allows users of the social media network to post videos with music from Sony/ATV’s catalog in the background. Financial details of the agreement were not disclosed, but the companies said that Sony/ATV’s songwriters will have the chance to earn royalties when their compositions are used on Facebook or Instagram.
This is Facebook’s second major music company deal. Its first was a tie-up with Universal Music Group in late December 2017. That agreement also covers music use on Facebook, Instagram, and virtual reality hardware Oculus. The social media company has also been hiring a small army of music business development professionals over the past year, headed by Tamara Hrivnak.