Wow, this is pretty awesome news, Last.fm will now have free streaming music from all four if the major record labels, EMI, Sony BMG, Universal and Warner. This would be contrary to the tiny 30 second snippets that you can usually catch. Additionally, Last.fm will also pay independent artists when their tracks that they’ve uploaded are played. It sounds like the money train will all be ad supported, there is some lengthy explanation of how this is all proposed to work on their blog. As a Last.fm user, I am interested to see how this will pan out.

Cheers!