Last.fm posts £4m annual loss as UK income dries up
CBS-owned digital service Last.fm lost almost £4 million in FY 2012, according to the company's latest financial filings.
The Guardian reports that the fiscal results show a steep decline in UK income, down 69% from £4.15m to £1.27m.
Total revenues fell 21% year-on-year in the period, from £8.13m in 2011 to £6.38m in 2012.
Gross profits more than halved, from £3.7m to £1.4m, while pre-tax losses narrowed slightly from £4.4m to £3.94m.
Advertising revenues fell by 23% to £4.33m, while ...
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