Last.fm Signs Deal with Sony BMG
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The reasoning behind Web radio service Last.fm's refusal to take part in the webcasters' "day of silence" protest of exorbitant royalty fees that take effect this month became clear Monday, as the company announced a licensing deal with Sony BMG.
Under the deal, Last.fm listeners will have access to Sony's entire music catalog; financial terms were not disclosed. The label said the service's recommendation and tracking features are what enticed them to the bargaining table. Last.fm, which is now owned by CBS and based in London, says its music library is now the largest of any Web radio provider, including rival Pandora.