Facebook and Universal Music strike huge agreement

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In time, functionality will expand to enable access to a vast library of music across a series of social features.

Not a coincidence: The press release announcing the deal quotes Tamara Hrivnak, the Facebook business exec who negotiated the deal with Universal.

Ever wanted to post a video of you singing Demi Lovato's "You Don't Do It For Me Anymore" or Kanye West's "Heartless" without fearing Facebook removing the video?

In what may be music to the ears of Facebook users, they can now add some of their favorite songs to videos they upload and share.

A senior executive at Universal Music Group called the agreement, whose financial details were not disclosed, a "dynamic new model" for the relationship between the music industry and social media platforms.

"This partnership is an important first step demonstrating that innovation and fair compensation for music creators are mutually reinforcing - they thrive together".

Facebook has made its first moves to challenging music streaming rivals by sealing a deal to allow copyrighted music videos to be used across its social media sites. YouTube declined to comment on this plans though.

For years, artists have complained that streaming services don't adequately pay them for their music.

The partnership is the first of its kind for Facebook, whose almost 2 billion users regularly share videos on the service with their friends and family. The deal sets Facebook up as a more direct competitor to Google's YouTube, the most popular destination online for listening to music. YouTube signed a similar deal with Warner Music Group, the third major music label, in May.

Neither Facebook nor UMG are saying how much today's deal is worth, only describing it as a "global, multi-year agreement".

Facebook has increasingly gone head-to-head with YouTube on its signature turf of videos.