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Thursday, August 2, 2018

DEEZER GETS AN INFUSION OF CASH

Deezer has raised $185m from investors such as Len Blavatnik’s Access Industries, Orange and Rotana to push its total valuation to $1.16b. Deezer will use the money to fund expansion plans.

Deezer and Arab music production and distribution company Rotana have also inked a deal to distribute Rotana’s digital audio and video content distributed through the Middle East and North Africa, two growing markets.

Deezer CEO Hans-Holger Albrecht said, “The new funding enables us both to accelerate our expansion in fast growing international music markets and strengthen our positions in key territories. The exclusive long-term distribution agreement also provides us with a unique opportunity to build future market leader positions in exciting markets.”

Funny, we were just talking about streaming services and which one will slip in behind Apple Music and Spotify.

 
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