Deezer Reports 12.7% Revenue Growth Despite Drop in Subscriber Numbers
Deezer posted strong revenue growth of 12.7% in 2024, reaching $586 million and exceeding projected growth estimates of 10%. However, total subscribers decreased by 3% to 9.7 million by year's end.
The streaming platform's success was driven primarily by strategic partnerships with RTL+ and Meli+, along with price increases in their Direct segment. Operating losses improved significantly, dropping to $29.76 million from over $70 million in 2023.
Revenue performance by region:
- France (home market): $338.52 million (+8.6% YoY)
- Rest of World: $247.72 million (+18.7% YoY)
A major milestone for Deezer was achieving positive free cash flow for the first time, totaling $7.12 million in 2024. This improvement resulted from reduced adjusted EBITDA loss, better working capital generation, and fewer one-off expenses.
Photo Credit: Deezer
CEO Alexis Lanternier highlighted key achievements:
- Revenue growth exceeded financial targets at 12%
- Reached adjusted EBITDA break-even in H2
- Expanded subscriber base in France
- Strong performance in partnerships segment
Looking ahead to 2025, Deezer expects to maintain positive adjusted EBITDA and free cash flow, continuing its trajectory of financial improvement and strategic growth.
Non-recurring licensing agreement charges decreased to €10.1 million in 2024 from €18.8 million in 2023, contributing to the company's improved financial performance.