A recent rumor claims that Facebook (FB) may be looking to launch its own music streaming service.
According to Music Ally, Facebook is in talks with music labels in an effort to start up its own music streaming service. This news comes from several unnamed sources. It’s believed that the first step for Facebook will be introducing music videos that feature ads on its platform.
It’s possible that Facebook will buy another company to handle its music streaming service. However, Music Ally believes that the social media company will instead build its own service. The success of the service will depend on how well FB movies videos are handled. It’s reportedly working on a content matching system similar to what Google’s (GOOG,GOOGL) YouTube uses.
The music streaming market already has several members that would offer competition to a possible Facebook Music. This includes the recently launched Apple (AAPL) Music, Spotify, Jay-Z’s Tidal and more, reports The Guardian.
