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You're walking down the street. You pass a Starbucks. Mmm, that Triple Venti Nonfat Latte sure does look delicious, but you've only got three bucks on you. Maybe next time. But wait! You have a new text message -- "Save $1 on any Starbucks coffee" -- score! Maybe that Latte is within your grasp. Welcome to the world of location based mobile advertising.

Earlier this week we reported that leading online music service Last.fm, owned by CBS, had gotten major labels on board for its new streaming music services. Users will be able to stream full-length tracks from the likes of EMI, Sony BMG, Universal and Warner, as well as "thousands of independent artists and labels."

In the following post syndicated from last100, our network blog about digital lifestyles, Daniel Langendorf analyzes how last.fm is much more than a streaming service - it is aiming to create "communities around content".

Music sites Songza and Last.fm separately announced major upgrades to their streaming music libraries. In Songza's case, the additional tracks came via partnerships with competing web sites, while Last.fm snagged the support of major labels for their new streaming music services. The Last.fm news ends days of rampant speculation after the company sent out cryptic invitations to press conference a few days ago, which had some betting the company would morph into a video service.