Last.fm To Exit Many Countries, Create Paywall For U.S.
December 14, 2012 at 4:08 AM (PT)
On JANUARY 15th, LAST-FM, the CBS-owned streaming radio companyplans to be put its desktop radio service in the U.S., U.K. and Germany behind a subscription paywall, matching the move it already had done in CANADA, AUSTRALIA, NEW ZEALAND, IRELAND and BRAZIL. TECHCRUNCH reports, "The ad-supported, web-based streaming service will continue to remain free. At the same time, it will be closing operations in all other countries where it currently offers a radio service."
What went wrong? "CBS overpaid for LAST.FM years ago and now no longer want to invest in it," a source told TECHCRUNCH. "They need to stop moving it around and focus on making it big again."