CBS-owned Last.fm Stems Losses To $4.45m, But bulk of Users Still In UK
Financials published on the UK’s Companies House show the company ended last year with net liabilities of £22.24 million, but parent company CBS is still effectively subsidising the company and will “make available such funds as are needed”. We’re hoping that CBS is getting some value out of this relationship.
Over 54% of Last.fm’s revenues in 2009 were from the UK, 33.5% from the US, 9.4% from EU countries, and 2.3% from the rest of the world.
That’s a gain on US users but the question is, is it enough to sustain CBS as a sugar daddy?