Facebook is continuing its move into video content and I am pleased to say it is taking copyright very seriously. Unlike YouTube which according to many critics is seen as being too lax when it comes to copyright.
Revenues from streaming music is a new trend with tremendous potential and clearly Facebook wants in. They also cannot fail to have noticed that music is the most popular type of content that's consumed on YouTube. Facebook is keen therefore to do a deal with music publishers and record labels so that its users are able to upload videos without worrying about the video being taken down due to copyright infringement.
To reassure record labels Facebook are rumoured to be developing a copyright ID system which will allow labels to identify any infringement immediately and will give them the tools to take action: either the video is removed or a fee split is agreed.
I believe this is an overwhelming positive for creatives which has to be very welcome news after a tough 10 years.
Facebook is said to be meeting with music publishers, record labels and trade associations, according to Bloomberg.