Last.fm Launches Video - Aims To Be The MTV Of Web 2.0 Age
Online radio station Last.fm is adding a video section to its site this week, enabling users to create their own personalised video channels - similar to how users can already create radio stations based on their music tastes. Last.fm is partnering with major and independent labels for this. The company also claims that the quality of videos on its site "will be significantly higher than that of YouTube", with audio encoded at 128kbps compared to YouTube’s 64kbps.
Initially it will be mainly independent labels featured on the video Last.fm - such as Ninja Tune, Nettwerk Music Group, Domino, Warp, Atlantic and Mute. However among the rosters of those independents are brand name artists like the Arctic Monkeys, Moby and Aphex Twin. Last.fm has also made partnerships with big labels like EMI and Warner, along with "over 20,000 independent labels". Presumably videos from those labels will be added soon. All of this seems to be basically an extension of their existing radio music agreements - from which Last.fm has access to more than three million music tracks. Last.fm is hopeful of adding other big labels, particularly Universal and Sony Music Group. Negotiations are in progress now on that front.
What's most intriguing about this move is Last.fm's long-term goal for video. Last.fm aims to eventually offer its users personalised channels from "the largest legal catalogue of music videos on the web." And in case that's not clear enough, their press release concludes with this bold claim:
"Last.fm aims eventually to have every music video ever made on the site, from the latest hits to underground obscurities to classics from the past."
When I read that, I immediately thought of Last.fm as the Web 2.0 version of MTV! That certainly seems to be their goal, and good on them for setting their sights so high. The fact they have at least a couple of big labels on board already (EMI and Warner, both of whom already have agreements with Last.fm regarding radio music) and they seem to be in good negotiations with others (Universal and Sony) indicates that it's not an impossible dream. The Web 2.0 age needs a new form of MTV, so why not Last.fm to provide it!
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Time for Apple to buy this company, and quickly.
I know this is pedantic but just FYI neither Atlantic nor Mute are independent labels - Atlantic is part of Warner and Mute is part of EMI
Reminds me of the initiative of two Dutch students who invented the price winning www.last.tv site.
And the correct URL of last.tv is: http://www.lasttv.net/
The two Dutch students are: Eelke Dekker and Alper Çugun.
These days, last.fm is all I listen to.
Just came across this, really interesting to see that last.fm is moving into video.. By the way, you can search last.fm and many other sites from a service called Sputtr, http://www.sputtr.com .I think it makes for a very effective way to search for anything really, including songs.
This should be great. I guess it'll be in beta at first, like all the previous site updates have been.
I pray that they don't get bought out by Apple or any other giant... Last.fm is practically the only site I'm willing to put money into because I respect their work so much. Stay independent, guys!
I guess they're realizing they may need to diversify their strategy since the new internet radio rate hike is going to hit them hard.
The question is whether Last.fm is also considering creating more compelling content on top of their Music Video offerings. It's really hard to sell anyone on the idea of another source for music videos. Maybe they will prove me wrong, but I doubt it.
Not in any way connected with pre acquisition valuation one assumes ;). The issue is that a lot of other players will also be looking at this space very carefully. We blogged on these issues here on broadstuff (linked to this post or Read/Write but no trackback allowed)
hm...i made such a thing last week, combining a user's last.fm top artists and youtube, maybe they should hire me :)
check it out at
http://tv.timbormans.com/user/*insertlastfmusernamehere*/
(still very much beta)
I'll give it a try.
Seems pretty cool, I might try this out.
MTV makes me wanna smoke crack !!
Fine by me, just don't let Jamba pollute it like it does MTV.
Damn frog...#@%!..
Personalization is a large area which can bring lots of interest. For example, how about the idea storing which URL I have visited before, for next search it does not turn up. I can select I want to search website or articles 'unread only' or 'all'.
Last.FM is so brilliant, this feature, and the new widgets will keep them king in the digital music space. I think they know that their recommendations are the killer aspect of their product - I guess they need time for people to adjust to the fact that they need to be 'recommended' new music to buy.
Another excellent music start up is Last.FM. It creates very good instant playlists and fills your iPod. I think it would be interesting if last.fm did something similar.
wow this is awesome news last.fm is definitely going places
It's incredibly addictive!