IT NEWS NIGERIA
Meta has said it is beginning to offer music revenue sharing to Facebook creators who use licensed music in their videos.
The latest move is considered as one of many of efforts aimed at combating rival TikTok
The program, dubbed “Music Revenue Sharing,” aims to let video creators and the artists behind the music “earn a share of in-stream ad revenue.” Previously creators could use licensed music, they just didn’t make money doing so.
Meta said “Video creators will receive 20% revenue share on eligible videos, with a separate share going to music rights holders and to Meta.”
What people say
Tommy McMillian II : More artist needs to understand the different verticals to monetize so that they have a better strategy to scale. Most artist I meet don’t know how and where to monetize their music. Meta should pay all creators, but creators have to be educated on how to monetize in the new creator economy. Never underestimate the power of marketing and branding on a free platform where I can license my music catalog. Artist should stop trying to monetize the music and start monetizing the brand and their page. Most artist need 100 million streams or 10 million post with your song attached to make a living. Thinking like a social media Influencer is what I try to get artist I work with to take advantage of. This is the greatest time in the history of the music business. Content at scale + music at scale =$ regardless of the rate. We are only at the beginning of a 10 year run. (Social Currency)
Albert Fong ; Product Marketing & Communications Leader:Top of Form
Setting the night to music has turned into dancing in a rainstorm. Meta’s launch of a music revenue sharing feature on Facebook aims to help creators make money from videos that use licensed music while positioning the company to better compete with rival TikTok. But the new program highlights a broader strategy to deal with the growing tension with the music industry.
Something we’ve learned with Meta is the company never does anything without some kind of ulterior motive or agenda. Its revenue sharing program is no different. In this case, this is all about the big “L” word: Licensing. Here’s why. Music publisher Kobalt recently ended its licensing deal with Meta expired and that it is in the process of taking 700,000 songs off Facebook and Instagram (no more The Weeknd and Paul McCartney). Another music company, Epidemic Sound is going after Meta claiming that 1,000 of its works have been uploaded to and used across Meta’s platforms without a license. Both of these taken together highlights a growing issue for Meta. The new revenue share program is trying to relieve some of those issues by luring creators away from copyright infringement by giving them a slice of the pie. Will it work? Not likely. My guess is Meta and the music industry will eventually need to hash out something that’s music to the ears of both sides
Jason Howard : Creators are the life blood of the social media industry, they are the DNA of the algorithm. All creatives should be compensated for their IP, it just seems that they are always the last person who gets to put their hand in the cookie jar. They end up getting crumbs.
Mariah Lundy ; Artist Management & Marketing: *Sigh* eventually artists and creative professionals are going to get tired of these platforms policing their intellectual property and that’s where companies like mine will come in. It’s one thing to give an artist a way to make money, it’s another thing to tell them how. We got away from labels being the only way to be successful in music. Then here comes social media platforms paying 6 figures to creators/creatives. Then once they realized how lucrative it could be for everyone, they set their algorithms to police the exposure one could get. I’m sick of it. Making money in music should be transparent and totally up to the artist.
