Deezer’s France-based streaming service , SPAC Deal

Deezer is a French online music streaming service. It allows users to listen to music content from record labels, including Universal Music Group, Sony Music and Warner Music Group (owned by Deezer’s parent company Access Industries) as well as podcasts on various devices online or offline.

The France-based streaming service Deezer, which has a relatively low profile in the U.S. but is one of the world’s largest streamers, is merging with a special-purpose acquisition company (SPAC) with an eye toward going public at a $1.13 billion valuation, the companies told the Wall Street Journal.

Created in Paris, Deezer currently has 90 million licensed tracks in its library, with over 30,000 radio channels, 100 million playlists, 16 million monthly active users, and 7 million paid subscribers as of January 2019. The service is available for Web, Android, iOS, Windows Mobile, BlackBerry OS, Windows, and MacOS.

In 2006, Daniel Marhely developed the first version of Deezer, called Blogmusik, in Paris. His idea was to give unlimited access to music lovers through streaming technology.

The site in its original incarnation was charged with copyright infringement by French agency SACEM and shut down in April 2007. It was relaunched as Deezer in August 2007, having reached an agreement with SACEM to pay copyright holders with revenue from advertising on the site and by giving users the ability to download songs streamed on Deezer from iTunes, with Deezer receiving a commission from each purchase.

Deezer, which launched in 2007, is merging with Paris-listed I2PO SA. According to WSJ, it is a so-called blank-check company backed by France’s Pinault family, the controlling shareholder of Gucci-owner Kering, as well as Centerview Partners banker Matthieu Pigasse. The vehicle is headed by former WarnerMedia executive Iris Knobloch.

A rep for Deezer declined Variety’s requests for further comment.

Paris-based Deezer has 9.6 million subscribers and generated revenue of €400 million in 2021, the company said. In addition to a music catalog of 90 million-plus songs, it also offers as podcasts, audio books and radio channels.

Deezer attempted an IPO in 2015 but backed off after a steep decline in listeners at Pandora radio cooled the market for streaming services. Pandora was acquired in 2018 by Sirius XM Holdings Inc. for $3 billion.

While Deezer has a 29% market share in France and 17% in Brazil, its global reach is just 2%, compared with 31% for world leader Spotify, 15% for Apple Music and 13% for Amazon Music, the three largest providers.

Other streaming service information >>

“What we’re trying to do with our partners is replicate the Apple and Amazon strategy, but we bring the music product and they bring the user base, so together we can replicate that model,” Jeronimo Folgueira, Deezer’s chief executive (pictured above), told the WSJ. “We need to compete against them and our partners need to compete against them, and together we can compete better.”

In a statement, Deezer said that most of its existing shareholders will remain invested in the company, including Kingdom Holding Co., which is controlled by Saudi Arabian billionaire Prince al-Waleed bin Talal, and Access Industries, the industrial conglomerate founded by billionaire Len Blavatnik that controls Warner Music Group Corp. Other Deezer investors include Universal Music Group, Sony Group Corp. and French telco operator Orange SA.

Movies available at Deezer streaming:

Po čem muži touží 2 online cz

Vyšehrad: Fylm online cz

Ježek Sonic 2 online cz

Fantastická zvířata 3 Brumbálova tajemství online cz

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