Will there soon be a Facebook ‘Music’ you can share your favorite songs and artists?
CEO Mark Zuckerberg has plans to move Facebook beyond just the social media company so many know it for. While Facebook connects billions of individuals across the world through its network, Mark has often referred to the company as a media company. Leaving out the key word ‘social’ is a telling sign the company has bigger plans. This may be surprising but if you dig deeper you begin to see why that is.
As Facebook grew some feared it could end up like the forgotten Myspace, a social sharing site that lost favor with users as they found other platforms more appealing. This may be one reason Facebook is focused on adding more media content than just social aspects like user stories, tagging photos and status updates. You may of noticed the addition of video content and live-streaming video to the platform. Now there are hints the company has plans for adding music content right around the corner.
This won’t be a small feat to accomplish. Facebook has entrenched competition in the music space with Alphabet’s YouTube. Many users currently get their music and music-videos from YouTube channels. The good news for Facebook is the leverage the company has with its 1 billion plus users. That’s a ready audience that may find their focus moving market share away from You Tube.
YouTube users can currently share music videos on Facebook but imagine the ease of sharing with your social network when you are already using the same platform to access music with your social circle. There is potential for Facebook to pull a large portion of the music market away from other platforms. Facebook could increase music sales by millions or billions for the industry.
It’s still unclear the direction Facebook will take into the music market, but you can certainly bet they will create a new way for users to consume one of the largest industries in the world.