The social media giant Facebook is planning to launch a new music streaming platform to take on Apple’s music, Rdio, and Spotify. According o Music Ally, Facebook has been in talks with some music recording labels to launch its own music streaming subscription service. The people in Menlo Park are first working on getting the video platform off the ground in the upcoming months. This audio streaming platform is in the planning stage for future, meaning you won’t see the launch of this audio platform service anytime soon.
Facebook is entering music streaming service pretty late as there are lots of music services available in the market right now. There is a chance of popping up some music videos on your Facebook in next few months, because company is in talks with music recording labels to get their music video on Facebook. As we know the popularity of Facebook, we won’t be surprised if this gives strong competition to YouTube.
In my opinion, it could have been easy for Facebook to acquire some small music streaming company rather than creating of its own, as we have seen the case of WhatsApp and Instagram. A smaller subscription based company can be acquired by Facebook in fewer prices they have spent for messaging and photo software.