Monday, March 12, 2007
Last.fm vs Viacom
Rumours were swirling...I'm a bit late to the party, but:
1) Yes, Viacom is desperate. That's because they're lame (ie, their corporate DNA is now basically the same as the guys behind Girls Gone Wild, which is not exactly a good thing).
2) That still doesn't justify the valuation said rumours put on Last.fm
3) Last.fm is a killer business, which, in the right hands, has the potential to absolutely reshape the music value chain (please, someone, put them out of their misery already).
4) I've been making this point since 2003, and it still took nearly 3 years for Index to invest in them (and Index actually, to some degree, gets it).
5) So, what's crystal clear to you and me is by no means at all obvious to the Beancounters of the Universe - the deal will go down, but it might not be that soon, and it might be not as big as you think.
Interesting post. I've never actually used Last.fm, but your positive comments make me want to check it out.
I've been reading a lot about Viacom's failure to grab MySpace, it was obviously a major misstep. Now they're left a little desperate, and late to the game (as this week's Shelly Palmer article points out
I think the web woulld feel very different if MTV had staked their claim on MySpace. As it stands, I'm glad they didn't.