"As of today, you can play full-length tracks and entire albums for free on the Last.fm website ... free full-length tracks are obviously great news for listeners, but also great for artists and labels, who get paid every time someone streams a song. Music on Last.fm is perpetually monetized. This is good because artists get paid based on how popular a song is with their fans, instead of a fixed amount ... we already have licenses with the various royalty collection societies, but now unsigned artists can put their music on Last.fm and be paid directly for every song played. This helps to level the playing-field—now you can make music, upload it to Last.fm and earn money for each play ... the business model is simple enough: we are paying artists and labels a share of advertising revenue from the website. Today we’re redesigning the music economy. "
Welcome to the future? Discuss...
1 comment:
I think this is a great idea - if it works that is. Advertising revenue is unlikely to generate anywhere near enough money to actually make a difference to the artists. Don't you have to pay for some stuff from Last FM? Or is that ust if you want to download rather than stream?
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