'Multiple sources' are reporting that Facebook is in early talks with record labels including Sony Music Entertainment and Universal Music Group.
The sources hinted at the plans to The Verge, but didn't elaborate beyond saying Facebook is simply 'getting into music' and that the plans would be 'unique.'
Following the launch of Apple Music's streaming service and Beats 1 radio this week, it is likely Facebook will be looking to launch a similar, rival service.
However, Facebook is also making a more significant push into video and it could be looking to launch a YouTube-style video streaming site.
During a question and answer session earlier this week, Facebook founder Mark Zuckerberg said he believes video will soon be even more important than photos.
This was followed by reports that said Facebook has been testing a 'suggested videos' feature, similar to YouTube's, as well as rolling out more in-play adverts on such videos.
The reports continued Facebook is planning to offer video creators such as the NBA a share of the revenue from the adverts sold on videos from the autumn.
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Photo Credit: Reuters
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