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How will Meta's stock price react to the UMG licensing deal by the end of Q3 2024?
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Story
Meta and Universal Music Expand Licensing Deal to Include WhatsApp
Aug 12, 2024, 12:10 PM
Meta Platforms and Universal Music Group (UMG) have expanded their music licensing agreement to include WhatsApp, marking the first time UMG's music will be available on the messaging platform. This global, multi-year agreement aims to create new opportunities for UMG artists and songwriters across Meta's platforms, which include Facebook, Instagram, Messenger, and now WhatsApp. The deal also covers aspects related to AI and monetization, reflecting the evolving landscape of digital music distribution. UMG, the world's largest music label, first licensed its music to Facebook in 2017, and this expansion represents a significant step in their ongoing partnership.
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