Deleted
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Post by Deleted on Dec 16, 2013 10:58:27 GMT 1
www.musicweek.com/news/read/last-fm-posts-4m-annual-loss-as-uk-income-dries-up/057077Last.fm posts £4m annual loss as UK income dries up by Tim Ingham Source: musicweek 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 subscriptions revenues reduced 12% to £1.55m. There was better news in the US where revenues from Last.fm's US operation grew by 22%, from £2.98m to £3.64m. Revenue from "countries within the European Union" stayed flat at £740,000, with the "rest of the world" tripling to £725,000. The company employed 61 staff in 2012 - including 31 technical and 18 in sales - up from 51 in 2011. Its overall salary bill in FY2012 was £3.7m, up slightly from £3.4m in 2011.
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Post by Razzle Dazzle on Dec 16, 2013 15:53:13 GMT 1
Jeez, 3.7m in wages. Surely a website pretty much runs itself!
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Paddy
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Post by Paddy on Dec 16, 2013 15:58:04 GMT 1
They have so much advertising to keep afloat that you expect a large workforce within the advertising department which means a high salary.
It's funny how only 2 months ago I was asking how Last.fm was surviving since it is never mentioned anymore!
It had a fad where everyone used it but spotify seems to have taken over.
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cody
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Post by cody on Dec 17, 2013 17:06:38 GMT 1
I like Last.fm, hope it manages to stay afloat
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Post by Doctor Blind on Dec 18, 2013 18:56:42 GMT 1
They have so much advertising to keep afloat that you expect a large workforce within the advertising department which means a high salary. It's funny how only 2 months ago I was asking how Last.fm was surviving since it is never mentioned anymore! It had a fad where everyone used it but spotify seems to have taken over. Yeah it is sad though because I love using last.fm- purely for the stats on song plays etc. because I am a bit of a geek in that respect. I hope that it continues in much the same way; surely they don't need to have so many people running it though - seems like a bit of a waste of money? |
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Post by Razzle Dazzle on Dec 18, 2013 21:06:53 GMT 1
didn't last.fm merge with audioscrobbler? which was the plug in that "scrobbled" (for want of a better word) all your tunes into a chart because back in the day I downloaded audioscrobbler and one day I checked and it was now last.fm
anyway my point is the best part of their website was initially ran independently and couldn't have cost much to run
who cares about featured artists, advertising and 30 second clips of songs, they should strip it back to basics
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Paddy
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Post by Paddy on Dec 18, 2013 21:48:20 GMT 1
They have so much advertising to keep afloat that you expect a large workforce within the advertising department which means a high salary. It's funny how only 2 months ago I was asking how Last.fm was surviving since it is never mentioned anymore! It had a fad where everyone used it but spotify seems to have taken over. Yeah it is sad though because I love using last.fm- purely for the stats on song plays etc. because I am a bit of a geek in that respect. I hope that it continues in much the same way; surely they don't need to have so many people running it though - seems like a bit of a waste of money? Oooh hello!!! Yes I'm sure they could strip back a few people... but we don't know the dealings in the company, I take it they are global now so will need people from each continent to negotiate with different languaged conpanies? |
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Post by Doctor Blind on Dec 19, 2013 15:21:45 GMT 1
Eh up Paddy! You are probably right - I just feel £3.7m is a huge wage bill for 61 people. That's an AVERAGE of £60,000 pa. I'd love to be earning that much.  |
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Pablo
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Post by Pablo on Dec 20, 2013 19:53:20 GMT 1
didn't last.fm merge with audioscrobbler? which was the plug in that "scrobbled" (for want of a better word) all your tunes into a chart because back in the day I downloaded audioscrobbler and one day I checked and it was now last.fm anyway my point is the best part of their website was initially ran independently and couldn't have cost much to run who cares about featured artists, advertising and 30 second clips of songs, they should strip it back to basics Agreed with Daz! Simple is always better!  . You could argue part of the loss of income is the limitations last.fm put in for free users last year(?), especially on the radio feature. |
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Paddy
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Post by Paddy on Dec 24, 2013 14:13:00 GMT 1
Eh up Paddy! You are probably right - I just feel £3.7m is a huge wage bill for 61 people. That's an AVERAGE of £60,000 pa. I'd love to be earning that much. It is quite large but again, they may have to pay that for industry average and to get the 'best' they can. If they make loses again next year we may see some changes coming from last.fm |
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