Music Streaming Subscription Site Deezer Has 2 Million Paying Subscribers
It looks like the online subscription music business is booming. The latest news is that Paris-based (and global presence) Deezer has 2 million paying subscribers. Assuming all the subscribers have chosen the monthly subscription price of £4.99 a month, Deezer is set to earn £119 million in profits this year. Yet, the site is still getting venture capital funding, most recently $130 million from Access Industries (owned by Warner Music Group), and operating on a loss. CEO…
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