CBS-owned Last.fm has reported a £4.4m pre-tax loss for 2011, as ad revenues stagnated and growth in the US market went into reverse.
The UK-founded online music service, which was acquired by CBS for $280m in May 2007, reported a slim increase of 1.7% in total revenues in 2011 from £7.99m to £8.1m. Between 2009 and 2010 total revenue growth was almost 10%.
via Last.fm reports £4.4m pre-tax loss | Media | guardian.co.uk.
