Facebook is looking to challenge YouTube for online music video supremacy with the launch of their own in-house video player.
An inside source has told Billboard that the social networking behemoth is currently in talks with major labels trying to sign licensing deals in order to launch its own set of music videos in direct competition to YouTube. A test run is expected to be conducted throughout the year, with select music videos shown in the main news feed to users. According to Variety, the ad revenue split would be the same as YouTube’s, with 45 percent going to Facebook and 55 percent to the rights holders.
In June 2014, Facebook claimed that they had over 1 billion daily video views. By the end of the year that number had grown to 3 billion, and now Facebook has over 4 billion daily video views. YouTube currently claims “billions of views.”