Thursday, 10 July 2008
Create Digital Music has an article about a new announcement from last.fm. Basically last.fm will now pay royalties for songs that are played through their website.
This means that independent, unsigned artists can earn money (not a lot!) every time their song is played via last.fm.
The article references some other articles on the subject and highlights the key issues that raises for the "standard" arrangement of royalties.
Another advantage of using last.fm as a means of promoting your music is that you have access to a wealth of data anaylsis tools, the ability to organise events and the fact that listeners can almost become an "army of promoters" for your music as they add to your artist details, etc.
This could be quite a development for the music industry (if it works, continues and spreads to ther outlets...)
It turns out that the amount offered through this new strategy is not really that impressive - apparenty it equates to about $0.0005USD per play!!
see this article from CDM, and the links associated with it for more info...