France-based streaming music site, Deezer is continuing to make a profit and with a $130 million investment from Warner Music owner, Len Blavatnik, things only seem to be getting better. Deezer’s success can be attributed to its expansion in non-US markets, but with Blavatnik’s backing, is it only a matter of time before we see a bare knuckle brawl with Spotify? Via ”The Guardian”:
Blavatnik described Deezer as a “state-of-the-art music service with enormous potential”.
The company, which expanded to the UK last year, says that it has been profitable since 2010, thanks in part to a partnership with Facebook.
Axel Dauchez, chief executive of Deezer, said the company embarked on a global expansion last year and has reached 2 million subscribers.