As the first premium content network to take an open approach to syndication, we are committed to providing our users with the best online viewing experience possible,” stated Anthony Soohoo, SVP and GM of Entertainment at CBS Interactive. “Our new video player platform takes advantage of the new social medium online by combining the most advanced video technology with our expertise in premium content programming to deliver new ways to discover and enjoy entertainment online.”

CBS Corporation (NYSE:CBS) officially announced yesterday that they are launching a new video player in HD-quality to enhance the user experience on their website.  The video player will be launching over the next few months.  The video will be able to go full-screen and users can embed the videos in their MySpace, Facebook, blogs, or other websites.

Users will also be able to watch CBS premium content in H.264 standard which is the same standard as Blue-Ray and HD-DVD.

The HD Video Player was developed by the CBS Labs division (http://labs.cbs.com).  CBS Labs also has a Social Viewing Room where users can chat about the same videos that they are watching. This makes CBS programming more interactive.

Another feature of CBS Labs is Build.last.fm.  CBS acquired Last.fm for $280 million in May 2007.  Last.fm is also being used to power CBS Radio.  CBS Interactive oversees Interactive properties: CBS.com, CBSSports.com, CBSNews.com, CBS Mobile, CBS EyeLab, Last.fm, Wallstrip, and MobLogic.tv.

Information Source:
[1] Press Release sent to P2 by CBS Corp. Communications.

“The content and distribution power between these brands is incredible, and we’re tapping into that strength to greatly expand our digital footprints while significantly improving the user experience on all our platforms.”
-CEO of Last.fm, Felix Miller

CBS Interactive has found a use for the music social network they acquired last year, Last.fm. CBS Radio will be levaraging Last.fm to distribute CBS Radio. Some of the stations that Last.fm will be streaming includes WCBS (New York), KROG (L.A.), WXRT (Chicago). Using the CBS Radio player, visitors will be able to listen to full songs on Last.fm. CBS acquired Last.fm for $280 million in May 2007.

CBS Radio has over 140 radio station. Last.fm CEO, Felix Miller claimed this initiative is “the first of what we hope to be many collaborations (with) CBS Radio.”

CBS Radio also recently took advantage of AOL and XM’s contract expiration. CBS Radio will be rolled into AIM and other AOL properties around May 2008. CBS Radio will be brokering the advertising and splitting the revenue with AOL.

Information Source:
[1] Digital Media Wire: CBS Radio to Stream Station Feeds to U.S. Last.fm Users by Mark Hefflinger
[2] Center Networks: Last.fm Gets CBS Radio Stations by Allen Stern

CBS Corporation[1] will be acquiring Last.fm[2] for $280 million. Last.fm has more than 15 million monthly users of which 4 million are in the U.S.

“Last.fm is one of the most well-established, fastest-growing online community networks out there,” stated CBS’ CEO, Leslie Moonves. “Their demographics also play perfectly to CBS’ goal to attract younger viewers and listeners”[3].

Last.fm is based in London, England and was founded by Felix Miller, Martin Stiksel, and Richard Jones. Last.FM competes among the likes of Yahoo! Music and Real Networks’ Rhapsody player.

The idea behind Last.fm is to provide users the ability to listen to 30 second clips of music and then socialize with others who enjoy the same song. Last.fm then also suggests related songs that the user may enjoy and has a “buy this album” button that links to Amazon.com’s listings. Last.fm also has the ability to tag and write a journal on songs and albums. One of the latest features is a widget that can be embedded on websites, blogs, and/or social network profiles.

There was a recent rumor that Viacom would acquire Last.fm for $450 million so if this is true, CBS got a great deal. CBS has also recently acquired WallStrip, a humorous financial video website. CBS plans on placing their own content within Wall Strip and Last.fm

[1] CBS website: www.cbs.com
[2] Last.fm website: www.last.fm
[3] L.A. Times: CBS to buy social network