Turntable.fm is going legit, with licensing agreements with all four of the major labels now in place. The announcement was made today at South By Southwest by Turntable.fm founder Billy Chasen and co-founder Seth Goldstein during the panel “Turntable.FM: The Future of Music Is Social,” and follows reports last week that the site was nearing agreements with several labels.
“This feels like an all-time record speed launch – when we launched we really didn’t come at this from the music industry, it was all new to us,” Goldstein told Billboard.biz of the nine-month-old service’s new licensing deals. “Our model is unique – we’re not a radio service, not an on-demand service. We have interesting aspects that really require some out-of-the-box thinking. We felt that from the get-go the labels were absolutely different from what I’d been led to believe. They gave us a lot of time and attention. Compared to their user base, we’re a tiny service in the broad scheme of things.”
Indeed, the traffic numbers of Turntable.fm tell a different story from that of Pandora and Spotify. Since debuting in late June 2011, Turntable.fm has yet to eclipse the monthly traffic record it reached during its full month in July – 207,000 unique web-based visitors, according to Comscore, although it has been steadily regaining traffic in recent months, achieving its third-highest month in February with 176,000 visitors. Pandora, by comparison, reached 17.4 million web-based uniques and the still-nascent Spotify was visited by 1.1 million uniques during the same period. (By Andrew Hampp, New York)