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Facebook, Sony/ATV sign music licensing deal

Reuters

(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.

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)