Last.fm have announced they'll be kicking off 2013 by making their site 'subscription-only' in an attempt to battle their pre-tax loss of £4.4m in 2011.

Currently speaking their subscription service only accounts for 23% of their revenue, so they'll be hoping to increase that when the paywall is introduced on January 15th in the UK, US and Germany.

Not only that, but they'll be shutting down their radio service in most countries (excluding the UK and US). "We will continue to look at the state of the market in other territories and hope to expand again in future as it becomes more viable. When it can be done so economically we hope to be able to open streaming to a wider audience in the future," said a Last.fm spokesperson. [via Guardian]