Yesterday, music biz website Music Ally reported that the next pie Facebook wants to jam its finger in is the streaming business. However, an official spokesperson for Facebook denied the claim that it was building a service, which doesn’t necessarily mean the social media giant is not interested in buying one. Given that Facebook’s track record tends to bend toward the notion of “global media domination,” we’re calling its bluff for a few reasons:
It’s Already Been Working On the Tech
Facebook’s biggest goal right now is to get its video service popping; music would be an easy piece to slot into this, given that Facebook has already openly been talking to labels. Though it might not be a traditional streaming service akin to Spotify or Apple Music’s product, if there’s a “robust media game” to get into, Facebook is usually a step ahead of the game here — I’m not sure one could expect sooner, rather than later, a true event release that will first be found on Facebook.
Its Best Interest Is Waiting Shit Out
The Verge’s report suggests that Facebook’s reasoning for not wanting to get into the streaming game just yet is to not have to square off with Apple, the world’s biggest company. However, in relative terms, not many of the streaming sites are worth as much as Facebook’s recent purchases (WhatsApp was bought by the company for $19 billion). It’s a noisy chamber, and not everyone is going to come out of it alive (looking at you, Tidal). By waiting out and seeing its competitors experiment in real time, Facebook gives itself an advantage. It want its product to be different than anything else on the market.
Soon Enough, The Media Business Will Need Facebook to Survive
They’ve already gamed the publishing industry. Music and video are next — just wait.