Last.fm Announce Full Track Offer
Music website Last.fm announced on January 23rd that it will begin offering full tracks online for free. The website, now owned by CBS, has secured licensing agreements with the four major record labels, as well as thousands of independent labels. Last.fm derives its revenue from advertising and pays out royalties to labels each time users stream a track. Over 15 million unique users from all over the world use the site, which operates as an online community for music fans. Listeners are able to find and discover new music based on their taste and previous selections. Previously, 30-second clips were offered as samples of an artist’s music.
In addition, the website allows unsigned artists to post their music and receive payments based on play counts. Of course, sites such as PureVolume and MySpace also offer unsigned bands a forum to get their music out into the world, but what is novel about the Last.fm arrangement is that fans can listen to music free of charge while the artist collects royalty revenues.
Currently, the music of many well-known artists is unavailable or available only as a 30 second clip. Even when full tracks are available, the selection is often slim. Still, many full albums are available and new content is added to the site regularly. The service does not allow users to download content, only to stream it. The online player includes a link to Amazon.com, which offers music in both physical and digital formats, and encourages users to purchase the music.
