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 signed a deal with the Indian Performing Rights Society, which lets Facebook and Instagram users play their music on their videos and on other parts of the services. The deal also covers Instagram Reels, Facebook's newly-expanded TikTok-like short video platform. Last September, Facebook launched Instagram Music in India, allowing Instagram users to include music in their Stories and videos. This followed a deal Facebook struck with music streamers like Spotify and Saavn. In June this year, Facebook signed a global licensing deal with Saregama, expanding on its deal last September with the Indian labels.
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