Deezer Subscriber Growth Over 13% as Revenues Rise Across Partnerships and Markets

Deezer has released its half-year financial results for 2024, showing it continued its upward momentum over the six months to June 30th.

Deezer reported revenues of €267.9 million for an increment of 14.6% after exchange rate variations from the same period last year. This growth reflects the success of Deezer’s strategy, which has been driven by new partnerships and price increases in subscriptions.

Notably, Deezer added over 1 million new subscribers through its B2B partners, which covers broadened alliances with broadcasters such as RTL and e-commerce giant Mercado Libre. In connection with this, subscribers acquired through partnership deals now comprise a larger part of the overall revenues compared to last year.

Deezer now has over 10.5 million subscribers directly and through B2B partnerships, with a 13.7% increase year-on-year by the end of June.

Revenues grew by all parameters, including partnerships, direct subscriptions, and other sources of income like advertisement. More selective promotional activity in key markets ensured a growth in both subscriber numbers and ARPU – Average revenue from each paying user.

France has remained the largest market geographically, yet sales in other regions continue to grow at a stronger and stronger pace. Other highlighted recent executive hires include a new CEO and new CFO, who will join the leadership team going forward.

Half-yearly reports from the first quarter show that Deezer has all the more committed to strategic partnerships, product innovation, and fair compensation for the artists. Management finds these are all forward-looking trends, which it surely will be suffused with, given that it is yet to cash in on the profits in the future.