How much is scrobbling worth?
Last.fm just reported a 21 percent loss in revenue in 2012. Revenue was £8.1m ($13.3m) in 2011, and £6.4m ($10.4m) in 2012. They reportedly have 23 million users and 61 staff members.
CBS bought the company in 2007 for $280m; they now say they will fund Last.fm until “at least” November 2014.
Most of Last.fm’s revenue comes from advertisements on web, mobile, and other devices — though ad revenue was down 23 percent. Subscription revenue was down 12 percent.
Last.fm’s UK division posted a loss of about $6.5m, though the US division had a $1.1m increase in revenue (to $5.9m). The US now brings in the most revenue.