,

Facebook seemingly developing a YouTube competitor and music streaming service

Facebook

Facebook is not one to shy away from venturing into new market segments and that’s exactly what a new rumor is suggesting today. The social media giant is supposedly prepping a music streaming service of its own in order to take on the likes of Apple Music, Play Music, Spotify etc. It is said that this is a long term plan from Facebook and will depend on the success of a standalone video service set to be unveiled soon.

Given that Facebook has its own array of video hosting tech on board, it would make sense to launch a competitive offering to take on YouTube, although one can’t accurately predict whether it will be a success. The video streaming service was partially confirmed by a couple of insider sources while speaking to a music publication.

Overall, it seems like Facebook is treading into familiar waters, which makes it imperative that its service stands out from the competition. As for the rumored music streaming service, it will be interesting to see what the company is able to develop.

Source: Music Ally

Via: VR Zone