Last.fm made a loss of £2.84m in 2009

"Last.fm has just published its financial report for 2009 on Companies House in the UK, revealing a loss for the financial year of just under £2.84 million.
The company ended 2009 with net liabilities of £22.24 million, but says parent company CBS continues to “make available such funds as are needed” by the music service.
Last.fm’s turnover for 2009 was £7.28 million, up from £4.19 million in 2008. However, its cost of sales was £7.2 million in 2009, down from £8 million in 2008. That meant Last.fm reported a gross profit of £86,322 in 2009, compared to a gross loss of £3.81 million in 2008.
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Of that £7.28 million, £5.37 million came from advertising sales – 73.7%. A further £1.3 million came from subscriptions (17.9%), with just over £0.6 million coming from affiliate sales (8.4%).
Geographically, 54.8% of Last.fm’s revenues in 2009 came from the UK, with 33.5% coming from the US, 9.4% from EU countries, and 2.3% from the rest of the world (right – click for larger). Last.fm’s headcount fell from an average of 79 in 2008 to 55 in 2009, according to the report."
Source:  Music Ally, 3rd December 2010