Last.fm has posted a £4.4m pre-tax loss for 2011,with a slight 1.7% increase in total revenues in 2011 from £7.99m to £8.1m
The company made just more than £4m in the UK, accounting for just over 50% of global revenues - up 4.88% YoY. However, in the US revenues fell 4.3% to £2.98m. Revenue from the rest of the world came in at just under £1m.
According to The Guardian total advertising sales revenues, which account for 70% of Last.FM's total, fell slightly year on year in 2011 to £5.66m. However, revenue from subscriptions was up 4.5% year on year, to £1.77m.
The UK-founded Last.FM was acquired by media giant CBS for $280m in May 2007.
Total staff costs climbed slightly to £3.4m in 2011, but headcount dropped from 55 to 51. Administrative expenses decreased very slightly to £8.1m.
The company said its biggest expense was music licensing fees.
In 2008 Last.fm made a £17m loss, dropping to £2.8m in 2009. In 2010 losses again widened to just over £5m.