Facebook Inc (NASDAQ:FB) has some new audio tools for video creators in its quest to better compete with YouTube on the user-generated video front.
Mashable has more details on the songs and sound effects, which were just introduced last week:
On Friday, the social network released thousands of exclusive audio tracks and sound effects that can be used for videos uploaded to the network. They’re all free and cleared for sharing only on Facebook and Instagram (read: not YouTube).
Facebook also released new tutorials and resources for creating 360-degree videos. It now offers a camera-loaning program where creators can borrow cameras such as the GoPro Fusion and ZCam S1 from the company for specific projects. Facebook will also begin holding 360-video workshops worldwide next year.
The social media behemoth was rumored to be working on a deal with record labels recently in order to gain the rights to use music in user-generated videos. Many users had complained about videos being taken down for copyright infringement reasons after posting videos to Facebook, so this is a pretty big step toward stealing some market share away from YouTube (which has a deal of its own with record labels).
Facebook Inc shares closed at $179.00 on Friday, down $1.14 (-0.63%). Year-to-date, FB has gained 55.58%, versus a 20.47% rise in the benchmark S&P 500 index during the same period.