Advertising Industry
Industry: Email Alert RSS FeedMusic-download sites seek marketers' money; Last.fm, Qtrax both think they can turn once-illegal activity into a business.(News)
Advertising Age, January, 2008 by Hampp, Andrew
Byline: ANDREW HAMPP
The market's still unproven, but the ad-supported-music industry just got two more major players knocking on doors looking for marketers' dollars: Last.fm and Qtrax.
CBS acquired streaming-music site Last.fm in May 2007 for $280 million and last week announced its transformation into a free, global on-demand-music service. The site will offer access to music catalogs from the Universal Music Group, Sony/BMG, Warner and EMI, as well as more than 150,000 others, including independent labels. CBS President-CEO Leslie Moonves said the company wants to develop "communities around content,'' a signal that a TV show, movie or radio personality can be extended online by finding ways to reach like-minded consumers who want to share their...
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