Universal Music Group and Last.fm announced on today that they have formed a new partnership which will extend Last.fm’s current music video offering and include Universal’s video catalogue.
While the partnership will present thousands of high-quality music videos to users of Last.fm, Universal Music artists will reap the benefits of receiving revenue for each video streamed on the website based on their agreement.
The catelogue includes videos of artists such as Jay-Z, Nirvana, Amy Winehouse, The Killers, Duffy, Snow Patrol and Kanye West, among many others.
“This is a hugely empowering partnership that really takes Last.fm to the next level. We want to offer a video library that rivals our unparalleled music catalogue, as we work towards Last.fm becoming the only place you need to go to for all music-related content, and this deal marks the first step towards that goal. Universal Music has the richest and most extensive music video collection in the world, and the addition of that content to Last.fm brings us closer to being able to offer the most rewarding personalized music video experience for music fans anywhere,” stated Last.fm co-founder Martin Stiksel.
According to Senior Vice President, Digital, Universal Music Group International, Rob Wells, the use of Universal Music videos on the Last.fm platform is a great opportunity for both consumers and artists due to revenue being earned from every video being played on the service.
“Video streaming services are an increasingly important source of income, and it’s great to have another new partner on board, tapping into this rich revenue stream,” Rob Wells stated.
In addition, to give users a more personalized feel and opportunity to interact with Universal Music Group’s content, the users will be recommended new videos based on their music taste.