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Last.fm Is Losing Millions…

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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.

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Comments (4)
  1. Casey

    I am surprised they are even doing this well. They have cut so many features over the last several years. It’s still a decent service, but it doesn’t offer anything exceptional.


    Reply
    1. Nina Ulloa

      Yeah, I’d say it may only be useful for people who want to obsessively track what they listen to and events (I’m one of those people). They could probably significantly downsize and then start charging for those services.


      Reply
  2. MetalOrgasm

    I love last fm and pandora! my ipod has never sounds so good everyone wants to listen.


    Reply

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