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Facebook (FB) Partners With Three Music Labels From India

Reportedly, Facebook FB recently partnered with three Indian music labels - Yash Raj Films, T-Series Music and Zee Music Company to use their music collection. However, the financial details of the deal have not been revealed.Following this partnership, users in India, approximately 300 million, per Hindustan Times, will be able to add music to their videos, stories and posts on both Facebook and Instagram.Manish Chopra, director and head of partnerships at Facebook India, stated that the partnership will enable users to be more expressive and increase their participation in the Facebook community. Facebook is likely encouraging its users, more than 2.7 billion, to use music across its family of services. Notably, Instagram had more than 500 million daily active users on Stories in fourth-quarter 2018.Ads Drive Revenue GrowthIncrease in user engagement and user base is expected to drive demand for ad slots thereby attracting advertisers. This may help Facebook at a time when Alphabet’s GOOGL Google, YouTube and Twitter TWTR are increasingly trying to dominate the digital ad space.Advertising revenues (98.4% of total revenues), which increased 30.2% year over year to $16.64 billion in the last reported quarter, are expected to be the main driver of top-line growth.Notably, Facebook has more than 7 million active advertisers across its services.

First found on: finance.yahoo.com And then on: 1 other references