fm said the streaming service is funded by advertising revenue which is shared with the music companies. The move comes nearly six years after Last. fm first started reaching out to music companies to license songs to stream on its site. They wouldn t even take our calls back then said Last. fm co founder Martin Stiksel. A source familiar with one music label s dealings with the network said because Last. CBS paid million for Last. fm s deals with the music companies were not disclosed but the source said Last. fm would pay a per play fee or a percentage of advertising revenue which ever is higher. The source said Last. fm also paid an advance. and in Britain . Pandora said it would close its U. service this month due to high royalty fees. A higher number of page views by a Web site s users would usually mean more advertising revenue. CBS has said it hopes to build new communities for online videos with Last. fm that will include its own archive of hit show! s as well as non CBS videos. We have a large assortment of etude books solos and pieces for multiple french horn. fm L CBS corporation president and chief executive officer Leslie Moonves . Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters.
Source: http://news.yahoo.com/s/nm/20080123/music_nm/lastfm_music_dc_2
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