Facebook Finally Scores Deal With Universal Music Group

This has been a long time coming. Facebook (NASDAQ: FB) had reportedly started negotiating with major record labels back in 2015, but it was never clear what the social network had up its sleeve. It did appear that the talks had something to do with Facebook's growing video ambitions, and it's probably not a coincidence that the company launched its Watch platform just a few months back.

Well, Facebook has now announced that it has inked an "unprecedented global, multi-year agreement" with Universal Music Group. What does the deal mean, and what comes next?

Facebook Watch launched in August. Image source: Facebook.

Source: Fool.com