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Facebook signs deals with labels for music videos: Report

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In a significant development for Facebook's music business, the company has just signed music video deals with Warner, Sony and Universal, the three largest labels in the world, Bloomberg reports. Earlier this month, the company wrote to artists saying that their music videos would be automatically added to their pages, and if they chose not to do so, the company would set a page for those videos on its own. The deal with the big three labels seems to pave the way for the social media company to do this. We have reached out to Facebook for comment. These deals would boost Facebook Watch and give it an edge over YouTube, which has dominated the music video space. In India, Facebook already signed a similar deal with T-Series, Yash Raj Music, and Zee Music last March. Earlier this month, Facebook…

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