Deezer published its latest financial results yesterday, hailing 2022 as a “successful” year on the grounds of a 13% growth in annual revenues to €451m ($480m at current exchange rates).
Deezer’s D2C business for direct subscriptions saw its revenues grow by 12.2% to €317.2m, while its B2B business with partners grew by 10.4% to €118.5m.
However, not everything is rosy in Deezer’s garden. The company actually saw its subscriber total fall slightly from 9.6 million at the end of 2021 to 9.4 million a year later.
On the B2C side, Deezer actually increased its subscribers in France (up 8.1% to 3.5 million) but saw its total in the rest of the world fall 11% to 2.2 million. Becoming more reliant on its home country is not the longer-term direction of travel that Deezer will be hoping for.
More positively, Deezer said that price increases for 94% of its B2C subscribers at the end of 2022 has so far had “no impact on churn”. The company has also appointed former WMG exec Stu Bergen as the chairman of its board.
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