Facebook is set to finally get the rights to show music videos

Facebook has been looking for more ways to increase video consumption on its service, tapping into a promising market. Video advertising is often more lucrative than other types of ads, and video-based rival TikTok, owned by China’s ByteDance Ltd, has been gaining users at a rapid clip. — AP

Facebook Inc has completed a series of deals for the right to show music videos, according to people familiar with the matter, vaulting the social network into a medium dominated by YouTube.

Partnerships with the three largest music companies – Universal Music Group, Sony Music Entertainment and Warner Music Group – are expected to be announced soon, said the people, who asked not to be identified because the information is private.