You will be redirected back to your article in seconds

Music Subscription Service Deezer Plans to Go Public

Paris-based music streaming service Deezer plans to go public before the end of the year, executives told Reuters. Deezer plans to list on the Paris stock exchange, and is expected to reach a market valuation of €1 billion (about $1.1 billion), according to the report.

Deezer generated €93.2 million (about $104 million) in revenue in the first half of this year, up 41 percent from the same six months last year.

The company currently has 6.3 million paying subscribers, with most of them being situated outside of the U.S.: The company initially launched everywhere but in the States, and then made some limited inroads with more focused music subscription packages targeting audiophiles and owners of certain internet-connected loudspeakers.

Deezer’s biggest foray into the States so far was the acquisition of Muve Music, the mobile-focused music subscription service that was previously owned by pay-as-you-go mobile operator Cricket. Muve has around two million paying subscribers at one point, but was neglected after Cricket was acquired by AT&T last year.

Deezer CEO Hans-Holger Albrecht told Reuters that he plans to use the IPO money to “improve product and distribution.” That could be seen as a sign that the company is eyeing further acquisitions, perhaps in the U.S., a market that is ripe for consolidation in the light of Apple Music battling Spotify. Possible targets could include Rhapsody, which now has 3 million paying subscribers, and Rdio, which has a very well-designed product, but comparably few paying users.

More Digital

  • China Video Streaming Giant iQIYI Loses

    Chinese Video Giant iQIYI Loses $1.3 Billion in 2018

    Chinese video streaming firm iQIYI lost over $1.3 billion in 2018, as revenues and subscriber numbers ballooned. The deepening losses reflected ever higher spending on original content production. Announcing its first full-year financials since a March IPO that launched it onto the NASDAQ, iQIYI said that it lost $1.3 billion (RMB9.1 billion) last compared with [...]

  • Roku headquarters

    Roku Aims to Top $1 Billion in Revenue in 2019, Beats Holiday Quarter Earnings Expectations

    Roku wants to become a billion-dollar company in 2019, and invest more in its ongoing international expansion. The streaming-device maker told investors on Thursday that it expects to generate between $1 billion and $1.025 billion this year, and that international growth was one of its key investment areas for 2019. Roku made these announcements as [...]

  • Vice Media

    Vice Media Taps Joe Simon as Chief Technology Officer (EXCLUSIVE)

    Joe Simon has been tapped as chief technology officer at Vice Media. The newly created role will include oversight of data analytics, engineering, information technology, media operations, media technology, post production, and systems management. Prior to Vice, Simon spent three years as Encompass Digital Media’s chief operating officer. Previously he held the chief technology officer [...]

  • att_logo

    AT&T Suspends YouTube Ad Spending as Boycott Over 'Pedophilia' Videos Scandal Widens

    AT&T, one month after it thought it was safe to advertise on YouTube again, said it is pulling all advertising spending from the world’s biggest video platform. The telco joins a boycott by marketers alarmed by the discovery that a secret group of child predators has been using YouTube to make sexual comments about kids. [...]

  • VR Pop-Up Opens Doors in Manhattan

    Future of Storytelling Pop-Up VR Arcade Is Coming to Manhattan

    Manhattan is getting a location-based virtual reality (VR) pop-up, courtesy of Future of Storytelling: The temporary Story Arcade will open its doors in the Starrett-Lehigh building this coming Saturday, and host a number of VR experiences, including Felix & Paul Studio’s “Traveling While Black,” Fable’s “Wolves in the Walls” and MWM Immersive’s immersive theater VR [...]

  • Amy Winehouse

    Amy Winehouse Hologram Tour Canceled Over 'Challenges and Sensitivities'

    Amy Winehouse will not be “Back to Black” in a holographic live tour after all. The late British singer, who died in 2011, was to be featured in a stage show slated to launch near the end of 2019. But the producer of the show, BASE Hologram, has indefinitely postponed plans for the Winehouse show, [...]

  • Jennifer Lopez

    Jennifer Lopez Joins TikTok App to Promote NBC's 'World of Dance'

    Jennifer Lopez is the latest celebrity to hop on TikTok, the short-form video app owned by Chinese internet giant ByteDance — more proof of the app’s growing traction, and reflective of media companies’ desire to reach its young-skewing base. Lopez had a very specific aim: to get fans excited about “World of Dance,” the NBC [...]

More From Our Brands

Access exclusive content