Last.fm bought by CBS
Posted by Admin @ May 31st, 2007 in Social Marketing
At 77 we think that vertical collaboration or conglomeration just might be the future for online radio. The problems – mostly disagreements about the price to pay for broadcasting songs – now lie mostly between the producers and the broadcasters of the music. So this is where most advantage can be taken by a merger. CBS and Last.fm are the most recent examples of such a vertical merger.
Social music network Last.fm has been bought by CBS for approximately $280 million (€210 million). We think this move will make advertising more prominent on the popular music site, but will also add a lot more content. That CBS is not backing away from advertisement supported free content, was already clear when they struck a deal with Joost earlier this year.
Users of Last.fm have responded slightly disappointed. They fear Last.fm will be covered in advertisements, where it is now almost ad-free. Former owner and CEO Martin Stiksel, however, enthusiastically says on BBC: ‘This move will really support us to get every track ever recorded and every music video ever made onto Last.fm. With a strong partner like CBS, this is now within our reach.’
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