Facebook to launch media sharing platform (rumor)

Facebook is planning to launch a media sharing platform for music, television shows, and movies at its f8 developer conference this Thursday.
Written by Emil Protalinski, Contributor

At its f8 developer conference this week, Facebook will reportedly unveil a media platform that will allow people to easily share their favorite music, television shows, and movies. The new feature will effectively turn your basic profile page into a primary entertainment hub, according to numerous media and technology executives cited by The New York Times.

Facebook has signed agreements with multiple media companies to develop a way for a user's profile page to display whatever entertainment he or she is consuming on those outside services. Links that appear on a widget, tab, or as part of a user's News Feed, will point one's friends directly to the content in question.

Last week, we heard the social networking giant will have at least seven launch partners (Spotify, MOG, Rhapsody, Soundcloud, Rdio, Deezer (France), and VEVO) for a service that could end up being called Facebook Music. Another rumor says Hulu and Netflix may also be joining.

Since most of these companies are relatively new startups, the next few months are going to be full of fierce competition. A few of these companies have started offering free music as enticements to new users.

Some investors and technology executives are concerned that Facebook's platform may bring in large numbers of users who are willing to listen to some free music but won't want to subscribe. Record companies need to be paid though: remember that these are completely legal ventures.

If you've been reading all the recent rumors around Facebook's upcoming music service (see links below) and are puzzled, you're not alone. Because speculation is based on different sources, it is often conflicting. This is to be expected: Facebook is testing different variations of various prototypes, and it has only recently finalized what's coming and when. Be patient: it should all be official on Thursday.

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