Facebook is to take on Apple, Spotify, Deezer, Tidal and a host of other music streaming services if rumours are to be believed.

Music business site Music Ally claims that the social media giant is not only looking to introduce music videos to its offering but will also launch its own music streaming service to rival Apple Music and the rest.

It says its sources reveal that Facebook's music video monetisation plans are the first stepping stone to introducing an on demand audio service. It has already struck deals to pay royalties to artists based on the amount of video views they receive, and there are strict takedown guidelines for record labels to enforce when a non-approved video is posted.

The video platform will be the first to launch - which Music Ally claims will happen in the coming months - and then an all-audio version will be next in line.

READ: Which is the best music streaming service in the UK? Apple Music vs Spotify vs Tidal and more

Engadget speculates that rather than launch "Facebook Music", the social network could instead make a bid for an already established service, much like it did with WhatsApp and Instagram. That way it could get a foothold in the market without having to outlay enormous start-up costs.

After all, that's what Apple did.