New Unit Combines CBS RADIO Online Assets and Last.fm to Give People More Content and Community Around Their Favorite Music
Industry-Leading Music Group Will Drive Increased Audience Share and Revenue Opportunities for the Company
David Goodman Appointed President of the New Group
NEW YORK, May 5
/PRNewswire-FirstCall/ -- CBS Corporation (NYSE: CBS and CBS.A)
announced today the establishment of the CBS Interactive Music Group.
The new business unit within CBS Interactive brings together the
Company's industry-leading digital music assets, including CBS RADIO's
more than 100 music websites and online audio streams, and its various
mobile applications, as well as Last.fm, a leading music discovery
site, to form a single division that will create richer and more
immersive experiences for millions of music fans around the world. At
launch, the combined assets of the newly formed CBS Interactive Music
Group reach almost 40 million unique monthly users worldwide(1).
Leading the new entity will be David Goodman
who has been named President, CBS Interactive Music Group. A veteran of
CBS RADIO since 2002, Goodman has served as President, Digital Media
and Integrated Marketing for the division since December 2007.
The announcements were made by Leslie Moonves, President and Chief Executive Officer, CBS Corporation.
we are combining two industry-leading music properties to form a single
group dedicated to music fans everywhere," said Moonves. "CBS is in a
unique position to bring together the leading-edge technological
resources at CBS Interactive with the content, promotional and sales
assets at CBS RADIO to drive efficiencies into the business and create
unmatched experiences for all of our customers. David is uniquely
qualified to lead our efforts in the area, and I look forward to all
he'll do to grow this new enterprise."
At launch, the new CBS Interactive music group will be comprised of the following:
RADIO streams of its music stations, and web only channels, available
online and via various mobile devices, including the iPhone and select
- The interactive websites for every CBS RADIO
music station which offer extensive audio and video programming
on-demand, embeddable song dedication and upcoming event widgets, and
exclusive opportunities and promotions;
- Last.fm, a leading
music discovery site, offers fans millions of tracks in every genre
with radio streaming and free-on-demand offerings through partnerships
with Universal, EMI, Sony BMG, CD Baby, independent aggregators The
Orchard and IODA, and more than 240,000 independent artists and labels.
The site also intelligently recommends its 25 million monthly users new
songs based on their listening history and music tastes through its
proprietary scrobbling technology.
"CBS RADIO and CBS Interactive have been moving
down parallel paths to create a new media structure for the future that
capitalizes on our unique strengths," added Quincy Smith,
Chief Executive Officer, CBS Interactive. "The time is right to create
a focused strategy that brings together the knowledge and expertise of
both divisions so we can realize our true potential."
CBS Interactive Music Group will complement CBS Interactive's four
additional business units primarily focused on Technology and News;
Business; Sports and Games; and Entertainment and Lifestyle. Neil Ashe serves as President of CBS Interactive. Goodman will report to Ashe and continue to work closely with Dan Mason,
President and Chief Executive Officer, CBS RADIO, to implement and
monetize the division's ongoing digital initiatives. Goodman will
continue to be based at CBS RADIO headquarters in New York.
unparalleled technology and operations expertise of CBS Interactive,
combined with the power of CBS RADIO and Last.fm, allows this newly
created vertical to develop best-of-breed sites and user experiences,
and gives us a unique competitive advantage in the marketplace -- not
only with our worldwide audiences but with the advertising community as
well," said Ashe.