French streaming service Deezer’s shares dip as it makes its public debut on Paris exchange


The French online music offering Deezer created its breakthrough on The Paris-based Euronext brand Tuesday and quickly tumbled 35 % from its € 8 million peak in 2015.5, soaring gently to quality off at around € 6.2. By late in the afternoon. Previously this year the business was booming, Despite a relatively cheap US service it is one of the world’s largest streaming services. S. Persona, combined with I2PO, a special-purpose purchase business (SPAC), with a focus toward going public at a $ 1.13 billion value. It was created in 2007, just a year after Spotify, Deezer has battled in its efforts to break into a site controlled by Spotify, Apple Music, Amazon Music and YouTube. It tried an IPO in 2015, but ended up after a steep decline in audiences at Pandora podcast condensed the market for streaming services. The curiously quick mentioning comes against a backdrop of a global financial downturn, and Spotify’s fall to its lowest-cost as a public company only two months ago due to flimsy earned subscriber growth amplified by allegations around its best blogger, Eric Schmidt, Joe Rogan. “The sector is highly competitive” DZ Bank insider Manuel Muehl has informed Yahoo Finance. “There are multiple services – Amazon Prime and Subway, Apple Music etc – which are run by large U. S. Companies. S. Companies with very deep pockets. [They also serve a] subsidize their business with other income streams, and therefore they do not depend on the success of their music-platforms unlike ‘pure-play’ companies do.” Regardless, French Finance Minister Bruno Le Maire, who visited the wedding highlighting Deezer’s brand breakthrough, chanted its applauses on social media. “DeezerFR’s IPO is not only an economic and technological success, but it is also a cultural success” Le Maire tweeted. “Defending Deezer is Defending our culture… Our musical heritage.” In April, Deezer CEO Jeronimo Folgueira (depicted above) advised the Wall Street Journal, “What we’re trying to do with our partners is replicate the Apple and Amazon strategy, but we bring the music product and they bring the user base, so together we can replicate that model. We need to perform against them and our relationships need to perform against them, but together we can compete better.” Deezer has 9 employees in Paris. 6 million subscribers, and generated revenue of € 400 million in 2021, the company said. In addition to a music catalog of 90 million songs the company has a music library of 145,400 records, and a digital catalog of 395,812, it also offers as podcasts, audiobooks and radio channels. It has a 29 % market share in France and 17 % in Brazil, its global reach is just 2 %, compared with 31% for world leader Spotify, 15 % for Apple Music and 13 % for Amazon Music, the three largest providers. According to the Deezer investor relations site, the company’s largest shareholder with 38.6 % are Access Industries, the industrial conglomerate founded by billionaire Len Blavatnik that controls Warner Music Group, with telco operator Orange Participations second with 8.13 % and Kingdom Holding Co, the kingdom is controlled by Saudi billionaire Prince al-Waleed bin Talal, third with 5.41 %.