Who Owns Deezer?

Deezer was founded in 2007 by Daniel Marhely and Jonathan Benassaya in Paris, France. The company launched with a catalog of 200,000 licensed tracks, making it one of the first legal music streaming services in Europe. The founders saw an opportunity to create a legitimate alternative to piracy platforms by offering unlimited streaming for a monthly fee.

In the early years, Deezer grew rapidly in France. The company secured licensing agreements with major record labels including Universal Music Group, Sony Music Entertainment, and Warner Music Group. By 2011, Deezer had expanded internationally, launching in multiple European countries and Latin America.

In 2012, Deezer introduced Flow, a personalized recommendation feature that creates an infinite mix based on a user's listening habits. Flow became one of Deezer's key differentiators against competitors and remains a central feature of the platform.

The company attempted an initial public offering in 2015 but abandoned the plans due to unfavorable market conditions. Access Industries, which had been an investor since 2012, later became Deezer's largest strategic shareholder. Its media portfolio also includes control of Warner Music Group, although Deezer is a separate listed company with other shareholders.

In July 2022, Deezer completed its IPO on Euronext Paris through a SPAC merger with I2PO. The listing valued the company at approximately €1.05 billion. However, the stock performed poorly, trading well below its IPO price for most of its public life.

Deezer remained listed after 2024 and continues to publish regulated shareholder, voting-rights, and financial disclosures. There was no completed Access Industries take-private transaction in 2024. That distinction matters because DEEZR investors retain an economic interest and Deezer remains accountable to public-market disclosure rules.

With Access Industries as its largest shareholder, Deezer has undergone a strategic transformation. The company has shifted focus from partnerships (telecom bundles) to direct subscriptions, which offer higher margins and better customer relationships. Direct revenue grew 2.2 percent to €351.9 million in FY2025, while partnerships revenue declined 12.1 percent to €147.8 million.

In H1 2026, Deezer reported revenue of €268.2 million, up 0.4 percent year over year. Adjusted EBITDA improved to €8.5 million from €2.1 million in H1 2025. Net income was €6.7 million, compared to a loss of €7.6 million in H1 2025. Direct revenue grew 6.7 percent to €185.2 million, while partnerships revenue declined 7.6 percent to €70.7 million.

The company has confirmed FY2026 guidance for stable revenue, positive adjusted EBITDA, and positive free cash flow.