Deezer: the streaming service is a little better

The French group Deezer is recovering after a “smashing” IPO…

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the company’s objective is to break even by 2025, focusing in particular on certain countries.

Better for Deezer

Because it’s not just Spotify, Apple Music and Amazon Music in life, the Deezer group gives some rather reassuring news in a press release published this Wednesday evening. Remember that the group entered the stock market this summer with losses and a crash, with a share that sank by 35% from the first morning…

In order to get its head above water, the French streaming platform has decided to review its strategy by focusing in particular on certain growth markets, with France of course, but also Brazil or Germany, via a new platform. launched in collaboration with RTL.

Focus on France, Germany and Brazil!

Thus, Deezer confirms net losses which are close to 52 million euros, with an improving gross operating surplus but which nevertheless remains in the red with 24.6 million euros. To compensate for these losses, Deezer notably reduced marketing expenses in certain markets.

For Deezer, it is indeed a question of concentrating only on countries with high potential, with however the possibility of penetrating new markets based on local partnerships. Thus, the French group would also be eyeing Canada, Italy, Spain or even the United States, on the condition, however, of finding a strong and renowned ally there.

On the audience side, Deezer has a total of 9.4 million subscribers, a slight decrease (of about 300,000 subscribers) compared to last year. The good news despite everything is that the group has gained subscribers in France, which allows it to post higher revenues of around 12% in the first half of 2022.

On October 4, Deezer will hold its “Investor Day” in London to convince professionals in the sector.

Source : Deezer