Is Facebook going into the streaming business? This news may not come as a surprise to many of those who are well-versed in the music streaming business. As Facebook continues to expand its model creating new revenues, its about time this internet giant gives a try on streaming. The giveaway was a recent ad on its site revealing its search for an experience executive from the music industry.
In July this year, Mark Zuckerberg boss of Facebook told investors that if there’s anything they are planning to execute, it would be into video. Video has become Facebook’s No.1 priority as it sets to munch into YouTube’s market share over the course of the next couple years – a rather good news for music rights-holders who are feeling a little beaten up by the mogul of online media brand with a billion-plus users, YouTube.
According to the job advertisement, it is looking for someone with a ‘proven track record of leadership and hands-on deal experience in music licensing for global organisations’ with 10+ years experience in partner management.
“This role will lead Facebook’s strategy and negotiations with music labels and publishing/performing rights organizations, as well as collaborate with our product and media partnerships teams to ensure a coordinated and best-in-class licensing structure.”
The position also calls out for someone who would ‘be a source of deep insights about the music ecosystem and partners to our executives’ and also ‘represent Facebook in meetings with music industry executives from other companies globally.’ View the full job advert here.
Facebook will be taking a slice of YouTube’s market share includes its acquisition of Eyegroove, the team behind UGC music video app. Earlier this year, Facebook has also licensed Slideshow, a product from Warner Music that allows users to soundtrack photo albums or videos with a limited amount of music owned by Warner.