Deezer earnings

An interior shot of Deezer’s Paris headquarters. Photo Credit: Deezer

Still focusing “on large, attractive markets,” Deezer achieved revenue growth in France during H1 2025, when its net loss shrunk by about 61% from the same period in 2024.

These and other performance details come from the Paris-headquartered DSP’s newly released financials for 2025’s opening half. Keeping the focus on hard numbers here – the corresponding conference call won’t take place until tomorrow – Deezer pointed to H1 revenue of $305 million/€267.1 million, down slightly year over year.

Behind the sum – which, running with previously disclosed Q1 data, means revenue was roughly split between the quarters – the Access Industries subsidiary reported having 9.2 million subscribers as of June 30th.

That’s down from 10 million at June 2024’s end; partnership subs slipped from 4.9 million to 3.9 million in H1 2025, the document shows.

(Those and a few other comparisons reflect 2024 data restated on a “like for like basis,” not the original figures. Deezer adjusted the relevant numbers “to offset the impact of the 0.5 million inactive Family account removals.”)

However, direct subscriptions jumped 5.5% YoY to 5.3 million, per the report, with France’s share increasing by 8.2% YoY to 3.6 million.

Bearing as much – and Spotify’s price increases in the European nation – in mind, Deezer identified H1 2025 revenue of $182.9 million/€160.2 million (up 4% YoY) in France. Meanwhile, Rest of World revenue declined 6.2% YoY to $122.1 million/€106.9 million during the period, according to Deezer.

(Last week, the company inked an “exclusive ad sales deal” with Azerion – representing “the first time Deezer has granted exclusivity to a single partner in Brazil.” Additionally, former NBA Brazil head Rodrigo Vicentini, who’s based in São Paulo, joined Deezer yesterday as Latin America GM.)

As for subscription ARPU, Deezer pointed to $6.28/€5.50 per month on the direct side (down 1.8% YoY) and $3.54/€3.10 (up 3.7% YoY) for partnership subs. And the initially mentioned net loss came in at $8.7 million/€7.6 million for H1 2025, down from $22.2 million/€19.4 million during the identical 2024 stretch, the service reported.

As for what the remainder of 2025 has in store, the profitability-minded Deezer reiterated its expectation of “flat to slightly declining” revenue for the full year – besides doubling down on “its ambition to achieve positive adjusted EBITDA in 2025 and positive free cash flow for the second year in a row.”

Deezer stock (DEEZR on the Euronext Paris) didn’t move much during today’s trading, finishing at $1.42/€1.24 per share. Lastly, CEO Alexis Lanternier in a statement touted the half-year financials and his company’s recent initiatives – among them tagging all on-platform AI music accordingly.

“We have successfully launched our new strategic plan,” said Lanternier, “introducing a first wave of innovative features aimed at empowering our users, connecting them in more personal ways with their favorite music and artists.

“The success of this new strategy led to strong momentum in France, with steady subscriber growth. We also continued to spearhead responsible innovation in the music industry, promoting fairness and transparency, as we launched the world’s first tagging system for 100% AI generated music in streaming,” proceeded the Deezer head of about one year.