![]() Additionally, Deezer will increase the price on all existing iOS users in November, which Folgueira said “willl have a substantial impact” on fourth-quarter earnings results. and Germany in October and Brazil in December. 4 investor presentation, Deezer revealed it plans to raise prices in the U.S. More price increases should help bolster ARPU and revenues, too. Deezer expects to see benefits from its new partnership with media company RTL in Germany in the second half of the year. The company expects to finish the year with about 455 million euros ($445 million) of revenue, a 14% improvement from 2021. Also, Deezer shut down its business in Russia at the end of the first quarter. and Brazil - and reducing unprofitable spending in elsewhere. That decline was due to Deezer’s decision to focus more on a smaller number of larger markets - including France, Germany, U.S. Outside of France, Deezer’s B2C subscribers fell 15.8% year-over-year, from 2.7 million to 2.2 million, although the loss in the third quarter was a more modest 4.4%, or 100,000 subscribers. The ARPU gain more than compensated for a 2.5% decline in total subscribers to 9.4 million - the same number as the second quarter of 2022. At the same time, Deezer saw strong business-to-consumer subscription growth in France, adding 300,000 to 3.4 million in its home market. “We always remain flexible when it comes to pricing,” he said.ĭeezer’s ARPU growth was partially offset by a higher proportion of family plan subscriptions, which carry a higher price than individual plans but allow up to six subscribers per account. “It also makes us more competitive once competitors increase prices.”įolgueira does not expect Deezer to further raise prices in 2023 but he didn’t rule it out, either. “We have been the first ones to raise prices very successfully and now that the competitors follow, obviously that is a good thing for the industry as a whole,” Folgueira said. Apple’s decision on Monday to raise prices on Apple Music “was extremely good news for us,” said Deezer CEO Jeronimo Folgueira during Thursday’s earnings call.įolgueira also encouraged by comments made Tuesday by Spotify CEO Daniel Ek about possible price increases in early 2023. The company is increasing the price of its Premium plan from £9. Other subscription services have followed - or likely will follow - Deezer’s lead in raising prices. Streaming service Deezer has broken a pledge made only months ago not to put up its prices. Kamala Harris Releases Spotify Playlist to Soundtrack Trip Across African Countries: Exclusive
0 Comments
Leave a Reply. |