Last.FM Makes Some Big Bucks
By Charlie | May 31st, 2007 in News |Last.FM has just been sold to CBS for £141M which is obviously more than pocket change. All the investors get a ten-fold return and the three founders get £19M a piece. Nice huh?! CBS in turn gets access to the 15 million users and their user behaviour data which is certainly worth quite a bit to them, and you have to wonder if this giant social music network went for less than it might be worth.
Sure other networks like MySpace have a lot more people and the ad revenue is substantially higher but Last.FM has really useful information about what people listen to and when, which the likes of which MySpace simply doesn’t have.
This use of user data points pretty directly at CBS radio which is a link that has already been hinted at by Les Moonves, President and Chief Executive of CBS.
Interesting times ahead for music social networking. I still think iLike is better.
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