Meta launches music revenue sharing for Facebook creators
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Meta Platforms (NASDAQ:META) has launched music revenue sharing on Facebook, allowing creators to earn money on videos that use licensed music.
That provides a new earnings opportunity both for creators on Facebook's platform as well as for music rights holders, the company says.
Anytime a creator uses licensed music on videos 60 seconds or longer, they can earn money in some cases through in-stream ads, with a share of that revenue going back to the music license holders. Video creators will get 20% revenue share on eligible videos, with a separate share going to rights holders and Meta.
That will open up music by popular artists including Post Malone, Tove Lo, Grupo La Cumbia, Leah Kate, and Bicep and "many others," Meta says.
Meanwhile Monday, BofA reiterated a Buy on Meta in its preview of the company's earnings, due for Wednesday. The firm expects Q2 revenues of $28.8B - down 1% year-over-year - but notes that after more grim warnings from Snap, Meta's Q2 expectations could be around $28.5B. For earnings per share, analyst Justin Post expects $2.39.
He's expecting a conservative outlook from the company and more news of expense cuts. An ad recession may have already started, he said, but there's room to expect a better 2023.
With Wednesday's report, analyst consensus is for Meta (META) to earn $2.56 per share on revenues of $29B.