Earlier quoted context omitted.
The phrasing is pretty standard, the important part is the middle sentence. Often it includes irrevocable , transferable and sublicensable as well. That being said, I hate "remains your property" part. It's just fluff that changes nothing, but distracts from the following sentence.
The reason why this is standard is because functionally, anything that receives data from a user, hosts it, and transmits it to third parties is engaging in distribution of copyrighted content. Without a grant of license, pretty much every message board, social media platform, or any website or internet-based application that does anything with user-generated data could be exposed to copyright liability. You may note…
Neat looking service though.