CBS's Last.fm Sees Traffic Jump After Free Streams DebutAuthored by Mark Hefflinger on February 22, 2008 - 11:59am.
New York - Last.fm, the social music discovery service acquired by CBS (NYSE: CBS) last year for $280 million, announced on Friday that, since introducing free on-demand music streaming to its service last month, it has seen unique visitors grow 59% and page views jump 58%. The company's deal allows free streaming of songs from all four major labels and a number of independents. It now counts 21 million unique users each month, based on internal data. "We've created a new model that works for everyone -- listeners, artists and copyright holders -- and the user response proves that it is working," said Last.fm co-founder Martin Stiksel. "Free is the future, and this is signaled not only by the industry's growing acceptance of what we're doing, but more importantly, by the incredibly fast increase of users accessing music on Last.fm since we launched free-on-demand."
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