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As expected, licenses songs from major labels was white-hot with the public last summer, and now we're going to see how it operates as a fully licensed service., the music-sharing service that took music fans by storm last summer, has signed licensing agreements with all four of the top recording companies.

Last week, CNET reported that the company was very near to becoming a licensed operation. is a little bit Napster and a little bit online radio. Users can become DJs and share music within virtual "rooms."

Billy Chasen, the company's founder, made the announcement at the South by Southwest conference. According to a report in Billboard, Chasen gave some credit to the labels for making the 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."

It's going to be interesting to see how the company fares against Rhapsody, Spotify, and other streaming-music services, which have been attracting all the buzz of late.