Last.fm switches on free music streaming

Last.fm is promising to 'redesign the music economy'

Social music site Last.fm is to launch a service allowing anyone to listen to music on the site for free.

Last.fm claims to be the first music website to offer free, global, on-demand access to a licensed catalogue featuring music from major artists.

The firm has sealed partnerships with all four major record labels - Universal Music Group, Sony BMG, Warner Music and EMI - as well as CD Baby, IODA, The Orchard, Naxos and more than 150,000 independent labels and artists.

Martin Stiksel, Last.fm co-founder, said: "We are giving the listener free access to what is basically the best jukebox in the world.

"The ability to dip into such a broad catalogue from your laptop, home or office computer, and listen to whatever you want for free, represents a new way of consuming music that might change the way you listen to music.

"In that respect, nobody else can currently offer what Last.fm is offering right now."
Last.fm is also launching an 'Artist Royalty' arrangement, whereby unsigned artists who upload their music to Last.fm will receive payment from Last.fm every time one of their tracks is played.

This should allow artists without traditional recording or publishing deals to reach millions of music fans, and to offer their music for free while still generating revenue.
"We are building a platform to help redesign the music economy, enabling artists and labels to earn revenue according to how people listen, rather than how they buy," said Last.fm co-founder Felix Miller.

"Now we can offer the arrangement to unsigned music creators too. For the first time, anyone can upload tracks and get paid when those tracks are played.

"It is a whole different model that benefits the artists, labels and advertisers, but most of all the listeners."