Last.fm has now signed a deal with Universal Music Group that is set to bring UMG’s video music catalogue for free on demand stream for Last.fm users. This comes after WMG pulled off its music catalogue from the service.
The partnership with the world’s leading company would get an addition of various artists namely, Nirvana, Def Leppard, Duffy, Jay-Z and many others. And this would provide a great opportunity for both artists and consumers to benefit in terms of generating revenues and consumers enjoying the works of their favorite artist. Rob Wells, Senior Vice President, Digital, UMG International said:
“Our relationship with Last.fm is evolving. The use of Universal Music videos on the Last.fm platform is a great opportunity for both consumers and artists, with the latter earning revenues from every video played on the service. Video streaming services are an increasingly important source of income.�
Martin Stiksel, co-founder of Last.fm was jubilant over the deal as he thought it to be highly empowering and something that would enable them to offer a video library that stands rival to their unmatched music catalogue. He said regarding UMG:
“Universal Music has the richest and most extensive music video collection in the world, and the addition of that content to Last.fm brings us closer to being able to offer the most rewarding personalised music video experience for music fans anywhere.�
CBS, owner of Last.fm is to pay a certain amount of money to UMG and its artists for every UMG video streamed.
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