Facebook: You already visit Alexa’s Number 2 global site to see your friends’ status updates with photos and videos. But could you soon make Facebook Music your music player destination?
That’s the hope. Rumors are swirling that Facebook is looking to create its own internet application dedicated to streaming music. Conflicting reports exist as to whether Facebook will enter the streaming music business.
Music Ally reports that Facebook is on a path toward streaming music. The pathway was started by a trial for ad-supported native video, and from there, the company would leap into the ability to stream music videos on Facebook. After these two programs launch, according to Music Ally, Facebook Music would then launch.
Yet Forbes counters that this is not true. According to a recent report, a Facebook staffer denied the rumors are true. However, the same staffer would not comment on the trial version of the online ad-supported videos, including the streaming music videos. The staffer, who was not identified in the article, added that if Facebook did enter into the online music battle, it would do so with something that is unique to the marketplace.
“The last thing Facebook wants to do right now is take on Apple in a streaming war.”
Both articles suggests that Music Ally’s report about the soon-to-come Facebook music video service is on track, and Forbes even indicated it would be available within a few months. Facebook’s plans seem to be to monetize the online content first before making any other moves. While that would be in direct competition with other services – such as Yahoo! and Google’s YouTube – it would not be in direct competition with Apple.
If the company builds the streaming music service itself, Facebook Music would be unlike recent moves by the company. These days, Facebook generally purchases established companies to fill their needs. As Metro reported, Facebook’s recent purchases of services like Instagram and WhatsApp confirm Facebook’s business plan thus far.
Facebook Music would be competing in a crowded field occupied with already-established apps like Spotify and Pandora. Apple recently joined the throng with its Apple Music when it launched in early June 2015. According to Apple, the company’s hope is to give music fans who love their Apple products a one-stop shopping experience (and the company a boost in revenue, of course).
Regardless of the crowded field, financial experts indicate the move could send Facebook’s already soaring stocks higher if it does introduce a Facebook Music component. As reported on Investor Place, just one week after a blogger said to hold off on purchasing Facebook stock because it couldn’t compete with YouTube, the blogger did an about face with the rumors swirling about Facebook Music.
Would you use a Facebook Music service? Let us know in the comments below.
[Photo: Justin Sullivan / Getty Images]