PARIS, France (CelebrityAccess) — Music streamer Deezer announced its financial results for the 2024 fiscal year, revealing revenue growth and reduced losses during the reporting period.
According to Deezer’s financial filings, the company reported total consolidated revenue of €541 million, up 11.8% year over year. This growth was driven by the strong performance of advertising and ancillary revenue, which increased by 62.9% year over year to €29.0 million in 2024, as well as Deezer’s partnerships segment, which accounted for €168.3 million in revenue, up 24.0% compared to 2023.
Direct revenue for Deezer grew more slowly in 2024, with the music streaming platform reporting €344.4 million, an increase of 4.0% compared to 2023.
Deezer’s direct subscriber count remained steady at 5.3 million at the close of 2024, despite the removal of 500,000 inactive Family sub-accounts, which had no impact on revenue. Additionally, Deezer saw an increase in its Average Revenue Per User (ARPU), which grew by 5.1% during the reporting period.
Despite revenue growth, Deezer still reported a net loss of €26 million in 2024, a marked improvement from the €59.6 million loss recorded in 2023.
Alexis Lanternier, CEO of Deezer, said:
“2024 was a landmark year for Deezer, marked by progress, innovation, and growth. We achieved full-year revenue growth of 12%, above our financial targets, reached Adjusted EBITDA break-even in the second half, and became free cash flow positive for the first time. We also expanded our subscriber base in France and saw strong momentum in our Partnerships segment. These milestones are a testament to the hard work and dedication of our entire team, reflecting Deezer’s ability to execute on its strategic vision with discipline and focus.
Looking ahead to 2025, we are on track to achieve positive Adjusted EBITDA and free cash flow. As we enter a new cycle of value creation and growth, we are focused on pioneering innovations that cater to the next generation of music lovers—offering a more social, personalized experience and exclusive, direct engagement with their favorite artists. This marks an exciting new chapter for Deezer, one filled with opportunities. With our outstanding product, amazing team, and strong financial position, I am confident that we will deliver significant value for fans, artists, partners, and shareholders in the years to come.”
