New York - Major record label Universal Music Group on Tuesday announced a deal with CBS-owned (NYSE: CBS) Last.fm that will make UMG's music video catalog available for free, on-demand streaming on the social music discovery service. Under the deal, Universal and its artists will receive revenue for every video streamed; more specific details were not disclosed. "We want to offer a video library that rivals our unparalleled music catalogue, as we work towards Last.fm becoming the only place you need to go to for all music-related content, and this deal marks the first step towards that goal," said Last.fm co-founder Martin Stiksel.

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