Facebook will support the monetization of licensed music videos
Meta Platforms Incorporated-owned social media platform Facebook has announced that it will now allow content creators to earn money from videos containing licensed music.
The move is part of a series of announcements that signal a shift in strategy, design and positioning, which would see the company take on TikTok, its Chinese-owned video-sharing app competitor. Bytedance Limited.
According to a company blog post, the music revenue share feature will allow creators on Facebook to receive a 20% discount on in-app ads on videos longer than 60 seconds and use a song from the platform’s licensed music catalog. Meta and song rights holders will each receive a separate share of the remaining 80%.
The Music Revenue Share feature will be made available to creators who have already been approved for the platform’s monetization tools. However, according to the blog post, Facebook’s Reels short video product will not currently be eligible for monetization.
“With video accounting for half of time spent on Facebook, music revenue sharing helps creators access more popular music, deepening relationships with their fans and the music industry,” the company said in a statement. the blog post.
With Tik Tok. becoming the most downloaded app of 2021 and overtaking Meta’s Instagram in popularity among young users, let Meta catch up with its platforms’ makeover announcements.
This included an announcement to reallocate resources from its Facebook News tab and Bulletin newsletter platform to enable “a more robust creator economy”.
Last week, Meta announced that it would offer a tab on Facebook that organizes content chronologically, called Feeds, which would restore a more traditional “family and friends” feed for users. Instagram launched a similar tool in March.
The main feed on Facebook will continue to be curated based on an algorithm – and the company has previously said it will rely more actively on what is recommended to a user by artificial intelligence and less on accounts. that he could follow. This makes Facebook’s main feed more akin to TikTok’s For You feed, where users don’t see content based on who they follow, but rather based on what TikTok’s algorithm determines who interests them.