UMG And Last.fm Partner For Music Videos
June 17, 2008 at 5:08 AM (PT)
UNIVERSAL MUSIC GROUP and LAST.FM have created a new partnership that will make UMG's music video catalogue available for free-on-demand streaming to users of LAST.FM. The deal, which marks LAST.FM's first major video partnership, will bring thousands of music videos to the LAST.FM community. As part of this agreement, UNIVERSAL MUSIC and its artists will receive revenue for every UMG video streamed.
LAST.FM Co-Founder MARTIN STIKSEL said, "This is a hugely empowering partnership that really takes LAST.FM to the next level. We want to offer a video library that rivals our unparalleled music catalog, as we work towards LAST.FM becoming the only place you need to go to for all music-related content, and this deal marks the first step towards that goal. UNIVERSAL MUSIC has the richest and most extensive music video collection in the world, and the addition of that content to Last.fm brings us closer to being able to offer the most rewarding personalised music video experience for music fans anywhere."
UMG INTERNATIONAL SVP/Digital ROB WELLS commented, "Our relationship with LAST.FM is evolving. The use of UNIVERSAL MUSIC videos on the LAST.FM platform is a great opportunity for both consumers and artists, with the latter earning revenues from every video played on the service. Video streaming services are an increasingly important source of income, and it's great to have another new partner on board, tapping into this rich revenue stream."