Why did CBS digital chief Quincy Smith pay $280 million for UK-based music site, Last.fm? An event tomorrow should start to fill in the blanks. Smith, CBS CEO Leslie Moonves, and founders Felix Miller and Martin Stiksel are scheduled for a big press shindig at CBS’s Black Rock headquarters.
CBS isn’t offering more details about the event, but our gut is that it has to do with video, and Paid Content concurs, predicting that CBS will extend Last.fm’s community recommendation features to video. That’s not a stretch; Moonves suggested as much in a speech to MipCom in October.
Other sources predict a splashy re-launch for the service (we hope it’s more than that) which has never been formally launched in the U.S., or some sort of integration into the CBS Audience Network, which has become the centre of the company’s digital strategy. Stay tuned.
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