While other online radio stations close their gates due to new licensing rules, last.fm will now even include videos, writes read/writeweb. They’ll start with smaller independent labels, but will have, allegedly, also partnerships with bigger ones like EMI and Warner. And they are negotiating with Sony and Universal.
Once that is live, you should be able to compile your own video channel, too. In even better quality than anything you can currently (llegally) get on YouTube. read/writeweb calls it the MTV of web 2.0 and I think that defines it quite well.