Facebook apparently wants to pay music companies hundreds of millions of dollars

The music industry had already been negotiating with Facebook for months and the online network had agreed to install an automated recognition system - similar to the one on the video platform YouTube - wrote the news service Bloomberg late on Tuesday evening, citing informed persons. However, this could take two years - which neither side wanted to wait for.

Facebook is therefore aiming for a quick deal. With Facebook, rights holders can currently only demand that clips in which their music can be heard be removed. The online network, which has more than two billion active members, is focusing heavily on video content and is challenging YouTube and traditional TV channels in the battle for advertising dollars. After years of contraction, the music market is currently growing significantly again thanks to the bubbling revenues from streaming subscriptions. (SDA)