​Facebook says it has 'no plans to go into music streaming'

Yesterday, it seemed like Music Ally blew the lid off of Facebook's next big project: a streaming music subscription service the likes of which could rival Spotify or Apple Music. It all seemed to make so much sense, but the company says it's not happening. "We have no plans to go into music streaming," a Facebook spokesperson told The Verge. Instead, it's reportedly working on something unique and new.

According to Music Ally's original report, that "new" service is probably a robust video sharing service, complete with YouTube-like Content ID matching, competitive stream rates and, presumably, something musical to follow the social networks recent talks with major music labels. "We have all been really utilizing it in internal testing," an insider source told Music Ally. "It is way, way ahead of YouTube." That at least meshes well with Facebook's track record--but for now, it's just a rumor.

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