CBS Pulls Last.fm Into New Interactive Group
By Jeffrey Hyatt
CBS has decided to close ranks around all its digital radio assets and operate as a single unit, called CBS Interactive Music Group.
The new plan will house CBS Radio’s 100 music websites, mobile applications and online audio streams, which include Last.fm, the music recommendation service acquired in 2007 for $280 million.
With Last.fm now operating under the same Interactive Music Group umbrella with the other digital music properties, CBS Interactive has the opportunity to incorporate Last.fm’s streaming technology and better integrate the online radio website into future advertising and sponsorship plans.
At launch, the combined assets of the newly formed CBS Interactive Music Group is reported to reach close to 40 million unique monthly users worldwide
David Goodman has been named president of the new group.
“It’s business as usual in terms of sales structure over at CBS Radio,” he said. “In terms of CBS Interactive, we’ll be working with their folks to sell the national inventory.”
Goodman said integration of the CBS multiple radio assets would create new opportunities for advertisers looking for maximum scale and reach.
“The unparalleled technology and operations expertise of CBS Interactive, combined with the power of CBS RADIO and Last.fm, allows this newly created vertical to develop best-of-breed sites and user experiences, and gives us a unique competitive advantage in the marketplace — not only with our worldwide audiences but with the advertising community as well,” said Neil Ashe serves as President of CBS Interactive.
Launched in 2002, Last.fm offers millions of music tracks with radio streaming and free-on-demand offerings through partnerships with the likes of Universal, EMI, Sony BMG and thousands of independent artists and labels.
Source: Digital Media Wire
