It looks like Facebook is all set to help the music industry capitalize on its copyrighted songs. According to a report by the Financial Times, the folks behind the social media platform are developing a YouTube Content ID-esque identification system in order to spot copyrighted music in their videos.

The Financial Times also reports that Facebook has identified 900 such viral music videos containing top 33 hits on its sites and that the vids have been viewed 600 million times. With that in mind, it's very easy to see why music industry figures would want to either cash in on the potential revenue stream or have the videos taken down.

To this point, Facebook hasn't created an infrastructure to distribute revenue from copyrighted songs in videos on their site. On the other hand, the folks at YouTube say they've done at least their fair share of payments to the music industry, giving it over $1 billion through advertising revenue in 2016.

YouTube put in some serious work in helping generate income for the music industry in 2016. Could Facebook be joining the club next year? It certainly looks like it, but we'll have to wait and see.

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