Financial Times FT.com

Universal deal strikes right note for Last.fm

By Joshua Chaffin in New York

Published: June 18 2008 03:04 | Last updated: June 18 2008 03:04

CBS’s Last.fm online music site will gain access to thousands of music videos from artists such as Jay-Z, Nirvana and Amy Winehouse after striking a licensing deal with Universal Music, the largest music company.

Under the agreement – Last.fm’s first for music videos – Universal will receive a small royalty each time one of its artists’ videos is streamed on the site. The company will also receive a share of accompanying advertising revenue.

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