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"We're building a platform to help redesign the music economy, enabling artists and labels to earn revenue according to how people listen, rather than how they buy," said Last.fm's other co-founder, Felix Miller. "Now we can offer the arrangement to unsigned music creators too. For the first time, anyone can upload tracks and get paid when those tracks are played. It's a whole different model - one that benefits the artists, labels and advertisers - but most of all the listeners."

COMMENTARY -

Napster had launched a similar service only to pull back after a year. But the move goes a long way in differentiating Last.FM from Pandora and other competitors although it may not be enough to make someone switch services.  It will be most interesting to watch how others in the sector react.

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