Feeds

Last.fm scrobbled for $280m

CBS whips the long tail

Top three mobile application threats

Media conglomerate CBS has bought Last.fm, the London-based social music network, for $280m.

Despite falling well short of the daft $450m buy-out which rumours linked CBS rival Viacom with recently, the deal cuts a new high water mark 2.0 for UK internet companies. The move underscores how big media companies are subsuming the most successful user-driven web ideas, leaving the me too 2.0 flotsam with long tail hot air and no access to advertising bounty.

Last.fm provides personalised internet radio and music video based on what similar users like. It has also rapidly become a top source for music event information. For its cash, CBS gets about 15 million active users worldwide. The firm pointed to Last.fm's success in building a young online community as a key attraction.

Last.fm, which was bankrolled by UK venture capital, gets the huge advertiser reach and possibility of profit that only a big network can provide, along with the financial clout it needs in the meantime to finish cutting deals with labels to allow it to webcast all recorded music. CBS is also the largest radio owner in the US, where Last.fm trails comparable personalised radio service Pandora.

As well as hundreds of independents, Last.fm, has so far signed up two of the four major labels, and prior to today's news was upbeat about the remaining pair of Sony BMG and Universal.

Under the terms of the acquisition, Last.fm's founders will continue to run the firm independently. Taking the service to mobile devices will be near the top of their to-do list: Pandora recently announced a raft of developments to free its stations from PC-based listening. ®

Bootnote

CBS was the long-time owner of Columbia Records until it sold up in 1988. The label's now part of Sony BMG, a leading light in the Recording Industry Ass. of America, which in turn has led a crusade to bully internet radio stations into paying grossly inflated royalties. Funny how things come around...

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.