Written by: Roshan Dwivedi
Interesting deals gain your numbers in the stock market and shares of Facebook gaining more than 1.3% in trading hours last week re-establishes the fact. Facebook struck a deal with ICE, a pan-European online music licensing firm which was described by the latter as a “landmark deal”. The new deal covers 290,000 rights holders across 160 territories and the deal allows Facebook to license these files on Facebook, Instagram, Oculus, and Messenger.
Anjali Southward, Facebook’s head of international music publishing business development, quoted, “We are delighted to continue deepening our relationship with music by partnering with ICE in a first-of-its-kind licensing deal.”
Facebook’s December deal with Universal Music Group followed by a separate deal with Sony/ATV Music is strongly indicating an online music streaming service at the door soon.