January 8, 2018 / 5:40 PM / 9 months ago

Facebook, Sony/ATV sign music licensing deal

(Reuters) - Sony/ATV said on Monday it signed a licensing agreement with Facebook Inc that will allow the social media platform’s users to upload and share videos from the music publishing company’s catalog on Facebook and Instagram.

FILE PHOTO: Facebook logo is seen at a start-up companies gathering at Paris' Station F in Paris, France on January 17, 2017. REUTERS/Philippe Wojazer/File Photo

The multi-year deal will allow artists associated with Sony/ATV — whose catalog includes Bob Dylan, Taylor Swift and Ed Sheeran — to earn royalties from the use of their music on the social media platforms.

Facebook’s deal with Sony/ATV follows a similar deal with Universal Music Group in December, to retain users and attract advertisers.

Reporting by Sonam Rai in Bengaluru; Editing by Shounak Dasgupta

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