Deezer Reports 14.9% Revenue Growth and Record Results in H1 2024

Deezer has announced a revenue growth of 14.9% to €267.9 million for the first half of 2024, driven by improvements in Average Revenue Per User (ARPU) and a significant increase in subscriber numbers. The subscriber base rose to 10.5 million, a 13.7% year-over-year increase, with partnership revenues climbing by 39.2%.

The adjusted EBITDA showed a substantial improvement, reaching €(5) million, benefiting from improved margins and strict cost control. Deezer also reported a strong free cash flow, resulting in a positive financial position of €65.1 million by the end of June.

Looking ahead, Deezer has revised its adjusted EBITDA target upwards, now expecting better than €(10) million for 2024. The company also confirmed its goal of achieving positive free cash flow for the year.

Alexis Lanternier has been appointed as the new CEO, effective September 2, 2024, to spearhead Deezer's future growth while maintaining its path toward profitability.

Deezer's listing on the general segment of Euronext Paris was successfully completed, allowing broader investor engagement since July 8, 2024.