The music industry has always been a giant only the medium has changed over the years, from the street corner to the streaming services. Money is to be made in creating content, however real money is created in marketing and distributing someone one else’s content.
Deezer is going public via a SPAC deal valuing the music streaming service at €1.05 billion, or about $1.1 billion, Axios’ Kerry Flynn and Tim Baysinger report in Axios Pro Media Deals.
Why it matters: Deezer owns just 2% of the global music streaming business and is unprofitable, but the hope is this SPAC deal will drive the company’s growth and turn a profit.
Deezer has 9.6 million paid subscribers, which pales in comparison to Spotify’s 180 million.Axios Closer By Hope King and Nathan Bomey · Apr 19, 2022