Deezer Reports 12.7% Revenue Growth Despite Drop in Subscriber Count
Deezer reported a 12.7% revenue increase to $586 million in 2024, exceeding projected growth estimates of 10%. However, total subscribers decreased by 3% to 9.7 million by year's end.
Photo Credit: Deezer
The streaming platform's growth was driven by key partnerships with RTL+ and Meli+, along with price increases in its Direct segment. Operating losses improved significantly, dropping from $70 million in 2023 to $29.76 million in 2024.
Revenue breakdown:
- France (home market): $338.52 million (+8.6% YoY)
- Rest of World: $247.72 million (+18.7% YoY)
For the first time in company history, Deezer achieved positive free cash flow, totaling $7.12 million in 2024. This improvement stems from reduced adjusted EBITDA loss, increased working capital generation, and lower one-off expenses.
CEO Alexis Lanternier called 2024 a "landmark year," highlighting:
- Revenue growth exceeding financial targets
- Adjusted EBITDA break-even in H2
- Positive free cash flow achievement
- Expanded subscriber base in France
- Strong partnership momentum
Looking ahead to 2025, Deezer expects to maintain positive adjusted EBITDA and free cash flow, continuing its strategic growth trajectory.