Facebook is reportedly developing a system to identify and remove copyrighted content. Developed to appease major label demands, the system will be similar to YouTube‘s Content ID. Once launched the system will cut down the sharing of unlicensed music and videos, and allow labels to fully capitalize on the viral nature of content released. Additionally, being the first of its kind for Facebook the technology development creates an opportunity for Facebook to formalize a licensing deal to generate ad revenue from content featuring copyrighted media. Stay tuned for more details as they become available.