Facebook Inc. (FB) has reached agreements with the three largest music companies for the rights to show official music videos on its platform, Bloomberg News reported ( night. With such partnerships, which reportedly will be announced soon, Facebook could better compete with YouTube, a unit of Alphabet's (GOOGL)(GOOGL) Google and the dominant platform for official music videos. Music videos make up some of YouTube's most popular content, and Facebook has reportedly been seeking new ways to increase video viewership, as video ads are more lucrative.
-Mike Murphy; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 30, 2020 23:54 ET (03:54 GMT)
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