Before Pandora, Rhapsody, and Spotify, Last.fm brought the world personalized online radio. But since 2007 when CBS bought the music service for $280 million, new competitors have left it in the dust. Now Last.fm appears to be planning a last-ditch comeback and cutting operating costs dramatically by switching to music powered by YouTube videos.
Last year, Last.fm dropped out of most markets staying open as paid only in the US, UK and Germany.
First reported yesterday by The Next Web, a new beta version of Last.fm in open testing asks users: “Ever wondered what radio would be like with video?" The move would shift all licensing costs to YouTube while while keeping the service open for a cadre of loyal users who are fans of its unique scrobbling feature.