Last.fm strikes Universal video deal
Last.fm has struck a deal with Universal that will see 12,000 full-length music videos added to the site.
The deal means visitors to the site will be able to stream videos from the Killers, Jay-Z, Nirvana, and Amy Winehouse for free, with Universal taking a cut of the advertising revenues.
As with music tracks, however, users can’t download the videos or embed them on their own sites.
The agreement is the first video deal struck by Last.fm with a major label. It had previously attempted to negotiate a similar deal with Warner Bros, but talks apparently stalled over the revenue arrangement, which ultimately saw the music label pull its entire music catalogue from the site.
Last.fm claims renewed negotiations are under way.
Universal claims it’s a deal in which everyone wins: “Our relationship with Last.fm is evolving. The use of Universal Music videos 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.”