The French music streaming platform Deezer is to start operations in Germany in the next few weeks as part of the company’s expansion plans.
According to Deezer CEO Jeronimo Folgueira, the company is interested in replicating its Brazil strategy in other countries but is focusing on a handful of countries for now, with Germany next on the list. On its Germany operation, the company has secured a local partnership with RTL Group.
“I think in Brazil we were able to replicate the model that we successfully done in France, which is we enter the market with big strategic partners – like TIM, Globo and Mercado Libre here – who really help us get scale. We are launching Deezer inside of the RTL + app, and that’s happening in the next few weeks. It will give us very strong entry into the German market,” said Folgueira.
Folgueira said the company needed to raise capital to implement its expansion plans, as well as provide liquidity for some of its investors and make room for “potential M & A down the road.”
The CEO also hinted at the possibility of expanding into other markets such as the U.S. and the UK, where the company has little presence.
The sources for this piece include an article in Reuters.
