News
Beatport's revenue dropped by $7.5 million last year
The SFX-owned company's finances aren't looking too good
Beatport recorded a loss of $5.5 million last year, according to reports.
Owned by SFX Entertainment, the online music store's revenue decreased to $39.1m in 2015, having reached $46.5m the year before.
One of the reasons is a $7.5m growth in expenditure, hitting $18.7m, as reported by Billboard.
The release of its finances follows a troublesome 2015 for the streaming and download service, which had to freeze labels' royalty payments.
SFX hasn't had the best of times, either, announcing its bankruptcy recently after being the subject of a lawsuit for allegedly misleading investors.
[Via: RA]
Dave Turner is Mixmag's Digital News Editor, follow him on Twitter here