Deezer Reports 11% Revenue Growth in Q3 2024, Maintains Strong Growth Outlook Under New Leadership
Deezer reported €134 million ($146 million) in revenue for Q3 2024, marking an 11% year-over-year increase driven by strong performance in France and expanded partnerships.
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Key Financial Highlights:
- Direct streaming revenue: €85.8 million (up 4.1% YoY)
- Partnership revenue: €41.5 million (up 21.3% YoY)
- Other revenue: €6.7 million (up 63.8% YoY)
Market Performance:
- France revenue: €78.5 million (up 9.4% YoY)
- Other regions: €55.5 million (up 13.5% YoY)
Subscriber Growth:
- Total subscribers: Nearly 10 million (up 4.1% YoY)
- Direct subscribers: 5.2 million (down 1.4% YoY)
- Partnership subscribers: 4.7 million (up 11% YoY)
Notable Updates:
- Removed 400,000 inactive Family accounts
- Increased festival sponsorships in France
- Monthly ARPU: €5.4 for direct subscribers, €2.8 for partnership subscribers
Future Outlook:
- Company maintains 10% revenue growth target for 2024
- Stock price declined 7.42% to €1.44 per share during trading
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