Yesterday, Mashable and other tech newswires broke the story that Last.fm, “The Social Music Revolution,” has delved into music videos.

The site is known now for being a community home for music lovers who want to expand their tastes. Users create profiles with their favorite music, forging automatized playlists based off similarities in taste to other user profiles and giving those users the chance to interact, listen, and share their uploaded music files. It’s essentially Pandora combined with a MySpace collective with everyone’s profile consisting only of their favorite music list.

With the introduction of music videos, Last.fm is breaking new ground. With independent labels behind artists like the Arctic Monkeys and Aphex Twin working with the site, the new site components are bound to garner credibility with an interesting market before music giants Warner and EMI also release their videos to service. Sony and Universal are also negotiating to join ranks with Last.fm’s substantial collection of audio and video files, but you have to wonder what will happen to Sony BMG’s MusicBox if that deal goes through.

Check out the new video features in the community search tools on Last.fm set to launch later this week.

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