Last.fm to compensate artists; Myspace labled sellouts

UK-based Social Music site Last.fm announced today that they would start sharing ad revenue with artist on their site. Last.fm will give artist a cut of the ad revenue from ads displayed on their site next to the artist's streaming music. Both big and small artist will receive a revenue share from Last.fm (unlike Myspace who only cuts deals with the major record labels). More information on this announcement can be found on Wired.