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Digital
Last.fm losses down, but revenue growth stalls
By CMU Editorial | Published on Friday 5 October 2012
Last.fm reported a £4.4 million pre-tax loss for 2011, according to its latest filing with Companies House, reviewed by The Guardian. This is down from the £5 million loss made in 2010, though the CBS-owned digital music service also saw revenue growth slow somewhat.
Revenues were up 1.7% to £8.1 million, compared to revenue growth of nearly 10% in the previous two years. Advertising income dropped slightly while subscription revenue was up slightly. About half of the £8.1 million in revenues generated by Last.fm came from the UK market, while revenues fell 4.3% in the US.
