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Deezer Q3 Earnings: Streamer Added 500k Subscribers, Revenue Up 4.8%

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“We are back to meaningful subscriber growth and secured top line acceleration starting in Q4,” said CEO Jeronimo Folgueira.

French music streaming company Deezer added 500,000 subscribers in the third quarter, helping its revenues improve by 4.8% to 120.7 million euros , the company announced Thursday .

While direct subscriptions remained flat at 5.6 million, subscribers from partnerships grew from 3.8 million to 4.3 million. Deezer said it had “very strong initial subscriber growth” in Brazil and Mexico stemming from its partnership with Uruguay-based e-commerce giant Mercado Libre. The third quarter was also the first full quarter for which Deezer managed the Sonos Radio service. Deezer also powers the music streaming inRevenue from direct subscribers grew 3.3% to 71.7 million euros .

 

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