Deezer confirms funding round for global expansion

Nieuws Breedband Wereld 10 OCT 2012
Deezer confirms funding round for global expansion
French headquartered music-streaming company Deezer has confirmed securing a USD 130 million funding round to drive its international expansion after reports that it won the backing of Warner Music parent company Access Industries. CEO Axel Dauchez told the Wall Street Journal Europe that Deezer was now present in half of its 200 target countries and is has shown it is possible to generate revenues for the music industry in countries that have never monetized before. He said the company was profitable now and expects it to return to profit in 2014 following an investment phase. The company currently has 26 million users, of which 1.5 million have a paid-for subscription, and aims for a 5 percent digital music market share by 2016. Deezer announced a year ago that it aimed to be present in every country except the US and Japan.

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Internet

Companies:

Deezer,  Warner Music

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Wereld

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Frankrijk

Tags:

Sales figures, Financial figures, Wireline, Wireless, Consumer, Digital Music, Corporate strategy, Financial funding

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