Facebook May Launch Its Own Music ServiceAdded: Friday, July 10th, 2015
Category: Bit Torrent Freedom > The Industries Of Records, Gaming, Software, Movies
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Today the choice between various music streaming services gets harder and harder. While Spotify, Apple Music and Tidal are fighting for the place under the sun, Facebook is also set to enter the race, reportedly going to launch its own streaming service.
According to the media reports, which cited sources speaking off the record, the social network is going to follow its trial of native videos (the ones that play only within the service, rather than embedded from other site like YouTube) and an experiment that is likely to include music videos – with a music streaming service. Media reports note that Facebook’s plans to monetize music videos are an important step towards the on-demand audio service.
According to the reports, the music video plans are advanced, and a launch won’t be made earlier than in a few months. Apparently, the service will be based at per-stream rates that will match YouTube. In the meantime, the launch of the audio streaming service is planned further in the future, as the business model is not yet finalized by the company. Industry observers believe that Facebook wants to get the video service right before launching streaming.
Indeed, it is clear that streaming has become an increasingly important part of music industry revenues. According to the statistics provided by a global industry body IFPI, last year, 9% of worldwide digital revenues originated from ad-supported streams, plus 23% – from subscription streams. The same statistics said that the number of paying subscribers worldwide increased by 46.4% in 2014, while subscription revenues rose by 39%, thus showing itself as the fastest growing revenue stream.
Friday, July 10th, 2015No comments
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