Music ‘streaming’s time is now’ says Deezer chief executive as the company announces 5m paying subscribers.
The company announced it has more than doubled its number of paying users in the past year.
Back in October 2012, Deezer had 2m paying subscribers after it received $130m (£80m) worth of investment from Warner Music owner Access Industries.
The firm also claimed it provides access to more than 30m tracks for users, making it the biggest streaming service in the market place.
Axel Duachez said: ‘Doubling the number of paid subscribers in 12 months sends a hugely encouraging signal that music streaming’s time is now.
‘The CD and download business is not so strong and will decrease as we move towards a streaming world. The quality of streaming needs to radically improve and our two new major project releases will be critical for the growth of the market. We're not content to simply keep up with the world; we want to lead the charge.’
Deezer’s figures place it near the top of the streaming market place. Market leader Spotify has just over 6m paying subscribers to its service.
The company announced it has more than doubled its number of paying users in the past year.
Back in October 2012, Deezer had 2m paying subscribers after it received $130m (£80m) worth of investment from Warner Music owner Access Industries.
The firm also claimed it provides access to more than 30m tracks for users, making it the biggest streaming service in the market place.
Axel Duachez said: ‘Doubling the number of paid subscribers in 12 months sends a hugely encouraging signal that music streaming’s time is now.
‘The CD and download business is not so strong and will decrease as we move towards a streaming world. The quality of streaming needs to radically improve and our two new major project releases will be critical for the growth of the market. We're not content to simply keep up with the world; we want to lead the charge.’
Deezer’s figures place it near the top of the streaming market place. Market leader Spotify has just over 6m paying subscribers to its service.
