Last.fm made a loss of £2.1 million last year with revenues dipping 22.8%.

The net loss figure is, however, an improvement on the £3.94 million pre-tax loss suffered by the digital music platform in 2012.

The service’s revenues fell from £6.38 million in 2012 to £4.92 million in 2013 - £1m of which came from subscriptions, and £3.55m from ads.

Cost of sales were down, however, from £5m to £2.78m YoY and the cost of wages was reduced from £3.7m ...