Facebook signs first-ever music deal with a record label

Facebook is getting more musical. In what's been quite the long-time coming for the social network, Facebook has signed its first-ever deal for music rights with a record label. 

Universal Music Group and Facebook agreed on a multi-year deal that lets Facebook host content with the label's licensed music across its network, including the main app, Instagram, and Oculus. That could include Facebook and Instagram videos made by users with the music in the background. 

Bloomberg was the first to report the news. The companies announced the news in a joint press release on Thursday.  Read more...