Facebook reacts to rumor that the company will launch a music streaming service similar to Apple Music or Spotify.
Facebook debunks Music streaming service rumor. A widely covered report says that Facebook is building a Spotify-style music service and that an music service is very much on Facebook's roadmap. Facebook is making right now inroads with their video platform. Facebook is seen to introduce monetization and rights management similar to Youtube soon. This would also require to work with music labels on royalties.
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Facebook is therefore in talks with labels. A Facebook spokesperson said to the The Verge, "We have no plans to go into music streaming." Well should we believe that? Music streaming is almost a commodity feature. Such a service would keep Facebook users inside the Facebook platform. This is also the reason why Facebook is going into videos and news. It is all aimed at keeping users inside Facebook.
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There might not be a Facebook music streaming service in 2015. Facebook is busy to get Facebook video right. Once that is working well I assume they will tackle music next.