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Last.fm to have last laugh on online music?
Last.fm to have last laugh on online music?
While MySpace has been relentlessly touted for the last couple of years as the place to discover new music, its position looks increasingly threatened by Britain’s last.fm.
In 2005-2006, the press was full of reports of artists like the Arctic Monkeys, Lily Allen, Sandi Thom and Tila Tequila apparently finding huge fan bases through MySpace, in some cases achieving immense popularity without signing a record deal. This was held up as a testament to the DIY ethic of Web 2.0, in which musicians can reach audiences directly, with no need for A&R; people, record labels or distributors.
Hundreds of thousands of unsigned bands flocked to MySpace in an attempt to find fame and fortune. Record labels followed, lured by the opportunity to market their artists to MySpace’s 100+ million users. By late 2006, every recording artiste the world over had to have their own MySpace page, or risk being left out of what had become the de facto global online music community.
But the limitations of MySpace’s information architecture are now prompting music fans to look elsewhere for the next big thing. One site consistently stands out from the rest: London-based last.fm. Unlike MySpace, last.fm functions as a sophisticated recommendation engine as well as a vibrant social community. Fans can easily find and listen to new music that is similar to what they already like, join fan groups, write journals and make new friends. Last.fm’s tasteful, ad-free interface is in sharp contrast to MySpace’s garishness, attracting people who want to discover music rather than have it aggressively marketed at them.
With a firm focus on users, rather than advertisers and marketers, last.fm is quietly becoming a massive Web 2.0 success story, despite its low media profile. It’s currently independent, but acquisition rumours have started to circulate. And with its CEO Felix Miller claiming this week that the site now has 50 million unique visitors, last.fm may yet turn out to be Britain’s YouTube.
Tags: last.fm
