At a time when streaming music services are scrambling to add personal radio features, what about one of the longest-established companies in that space? Last.fm’s latest financial results reveal that despite ending 2012 with 23m users, the CBS subsidiary is still a way off being profitable. The Guardian reports that Last.fm’s revenues fell 21% year-on-year to £6.38m in 2012, while its pre-tax losses narrowed from £4.4m to £3.94m. In its homeland of the UK, Last.fm saw revenues fall 69% to £1.27m in 2012, leaving the US – where income grew 22% to £3.64m – as its largest single market. The company still has backing from CBS, which paid $280m for Last.fm in 2007.