In a monumental deal advancing the financial opportunities for a designated group of songwriters, Sony/ATV Music Publishing and Facebook have entered into a multi-territory, multi-year digital licensing agreement.
The new deal enables Sony/ATV songwriters the ability to generate income through royalties for use of their compositions on Facebook and its other properties, including Instagram and Oculus. Users will now be able to upload and share music from Sony/ATV’s vast library of songs on the aforementioned sites and not be in violation of copyright policy.
Martin Bandier, Sony/ATV Chairman and CEO, said: “We are thrilled that in signing this agreement Facebook recognizes the value that music brings to their service and that our songwriters will now benefit from the use of their music on Facebook. We are looking forward to a long and prosperous relationship.”
“We’re excited to work with the largest music publisher in the world to bring amazing songs which deepen connections between friends and fans. Sony/ATV is a true leader and an absolute champion of writers in the digital space, and we’re thrilled to work with them as they grab new opportunities by the horns across all of our platforms,” expressed Tamara Hrivnak, Head of Music Business Development and Partnerships, Facebook.
Sony/ATV’s roster includes many of today’s most popular contemporary artists, including acts such as Drake, P!nk, Ed Sheeran, Sia, Sam Smith, Taylor Swift, Kanye West, Pharrell Williams, and The Chainsmokers. In addition, Sony/ATV also represents songs of legends such as The Beatles, Leonard Cohen, Bob Dylan, Michael Jackson, Carole King, and Queen.