Meta Platforms, Inc.

US30303M1027

Internet Services

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Sep. 06	Broadcom's AI Growth Uneven but 'Strong,' Morgan Stanley Says	MT
Sep. 06	Social media platforms leave alleged Russian influence network largely untouched	RE

Meta: signs new multi-year global agreement with UMG

August 12, 2024 at 11:30 am EDT

Meta and Universal Music Group (UMG) have announced a new global, multi-year agreement that strengthens creative and commercial opportunities for UMG artists and songwriters on Meta's platforms, including WhatsApp for the first time.

The agreement reflects both companies' commitment to protecting creators and ensuring fair remuneration for artists.

It builds on a 2017 agreement, which saw UMG become the first major music group to license its catalogs on Meta platforms.

The agreement also includes measures to combat unauthorized AI-generated content.

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Company Profile

Meta Platforms, Inc. specializes in online social networking services. Net sales break down by activity as follows: - operation of social networking, messaging, photo and video sharing platforms (98.6%): operation of the Facebook, Instagram, Messenger, Threads and WhatsApp platforms (3.98 billion monthly active users in 2023) ; - sale of virtual and augmented reality products, software and devices (1.4%): virtual reality headsets (Meta Quest), connected screens (Facebook Portal), wearable devices, etc. Net sales break down by source of income into advertising spaces (97.5%) and other (2.2%). Net sales are distributed geographically as follows: the United States and Canada (39.2%), Asia-Pacific (26.8%), Europe (23.1%) and other (10.9%).

Employees

70,799

Sector

Internet Services

Calendar

2024-10-22 - Q3 2024 Earnings Release (Projected)

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