Deezer revenues grew by 12.1% in the first half of 2022


Deezer is now a public company, which means we’ll be getting quarterly updates on how its business is progressing. Yesterday the streaming service published figures for the first half of 2022, revealing that its revenues grew by 12.1% year-on-year to €219.4m ($216m).

That included growth of 12.2% for its B2C business (consumers) and 7.9% for its B2B business (partners like telcos). France remains a significant share of Deezer’s revenues though: 60.3% this year compared to 60.9% a year ago.

As for subscribers, Deezer ended June 2022 with 9.4 million of them, down from 9.7 million a year ago. It lost around 100,000 B2B subscribers globally; gained 300,000 B2C subscribers in France; and lost 500,000 in the rest of the world – the latter partly due to pulling out of Russia, and also because Deezer has been reducing “unprofitable spend in noncore long tail markets” in order to focus on a smaller group of key territories.

Profits? Not just yet, but Deezer did manage to lower its first-half operating losses from €61.1m in 2021 to €52.6m in 2022. CEO Jeronimo Folgueira said he hopes that Deezer can “continue improving our profitability to reach breakeven by 2025” though.

Written by: Stuart Dredge