Is Facebook Planning To Launch Its Own Music-Streaming Service?

The popular social networking site, Facebook is in talk with major labels in regards to "getting into music." According to The Verge, the social networking giant has been in talks with Sony Music Entertainment, Universal Music Group and Warner Music Group over music distribution business.

There is no official word about Facebook's involvement into music business, but it is expected that the company might venture into the music streaming service. Recently, Apple's Music streaming service has created a new wave in the industry, and Google too launched its own free music service to intensify the competition. Furthermore, the tech giants like Amazon, and Microsoft all are offering their own music service.

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According to the new report, Facebook desires to engage more users on the site, for which, a music service would be a good way to engage users on its site for longer time. The report also says that the talks are still in early stages, and nothing is final as yet.

With 1.44 billion users and 798 million mobile users on the service every day, Facebook can potentially match the reach of Apple Music by launching its very own music service.

Would you want to see Facebook getting in to the music service segment as well? Let us know by commenting below!