Deezer’s record results in the first half of 2024 shows their growth matching that of the world’s leading music streaming players.

Deezer have revealed an incredible start to 2024 that puts them on track with their biggest competitors. Deezer are reporting impressive growth in revenues and new users, which puts them at rates of growth similar to the world’s leading music streaming service Spotify.

Deezer have reported 14.9% revenue growth in the first half of 2024, compared with H1 2023. Their revenues for the period of H1 2024 totalled €267.9 million. Their significant growth was powered largely by partnerships which delivered 39.2% more revenues since last year.

Deezer added 1.3 million subscribers year-on-year, totalling 10.5 million global subscribers. At a rate of 13.7% growth, this is close to market leader Spotify’s 14% growth of monthly active users in their Q2 report. Spotify announced 626 million total monthly active users in June, so Deezer are far behind in numbers but their levels of growth are strong.

Deezer’s interim CEO, Stu Bergen says: “These positive results are the result of strong performance throughout Deezer. The company is on track for profitability, and we are all proud of the current achievements.” Bergen stepped in after CEO Jeronimo Folguiera left earlier this year. It’s now been announced that entrepreneur Alexis Lanternier will take the role of CEO at Deezer in September.

About their 2024, Bergen continues: “Deezer occupies a distinctive position within the music ecosystem, supporting artists, songwriters and rightsholders alike through initiatives focused on transparency, fairness, and innovation in music streaming. Deezer connects artists and fans through a wide range of unique music experiences and features.

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