on Deezer (EPA:DEEZR)
Deezer Achieves 11% Revenue Growth in Q3 2024
Deezer, the global music experiences platform, reported a significant revenue growth of 11% year-on-year in Q3 2024, reaching €134 million. This growth aligns with the company's annual target, reflecting strategic success through new partnerships and higher subscription margins.
The company saw a notable 21.3% increase in partnership revenues, driven by new subscriber acquisitions and the impact of collaborations with TF1+, DAZN, and Mercado Libre. Despite removing inactive Family offer sub-accounts, the subscriber base remained stable at 9.9 million, contributing to higher margins without affecting revenue.
In addition, Deezer's commitment to the music industry was underlined by its support for eight festivals across France and the expansion of its Purple Door music experience in Brazil. The introduction of AI features further enhanced user engagement and experience.
The financial outlook for 2024 remains optimistic, with Deezer confirming its revenue growth target of 10% for 2024 and a forecasted improvement in adjusted EBITDA.
R. E.
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