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French music streaming service Deezer posted a net loss of 168 million euros last year, more than the year before when the company went 123 million euros into
French music streaming service Deezer posted a net loss of 168 million euros last year, more than the year before when the company went 123 million euros into the red. This is evident from the financial figures published on Tuesday.
Deezer, a competitor to Swedish Spotify, went public last summer. It was a flop: the share was worth 8.5 euros when it went public, now it’s only 2.6 euros. Operationally, things did not go well either. The service lost around 200,000 subscribers worldwide (-2.2 percent). Deezer shifted the focus of its marketing efforts to a few large countries, including the domestic market.
In France, the number of users increased by 8 percent to 3.5 million. According to the company’s CEO, Jeronimo Folgueira, the company is growing healthily. Thanks to rate increases, Deezer’s revenue increased by 13 percent to EUR 451 million in 2022. By 2025, the company is aiming for an annual sales increase of more than 10 percent. By then, it also wants to achieve a positive operating result.
Deezer, a competitor to Swedish Spotify, went public last summer. It was a flop: the share was worth 8.5 euros when it went public, now it’s only 2.6 euros. Operationally, things did not go well either. The service lost around 200,000 subscribers worldwide (-2.2 percent). Deezer shifted the focus of its marketing efforts to a few large countries, including the domestic market. In France, the number of users increased by 8 percent to 3.5 million. According to the company’s CEO, Jeronimo Folgueira, the company is growing healthily. Thanks to rate increases, Deezer’s revenue increased by 13 percent to EUR 451 million in 2022. By 2025, the company is aiming for an annual sales increase of more than 10 percent. By then, it also wants to achieve a positive operating result.
Source: Data News
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