Deezer, France’s largest music streaming service, aims to show Spotify there is room for others in the sector. Hans-Holger Albrecht, Deezer’s London office CEO, said the flotation of Spotify on the New York Stock Exchange earlier this year for $30bn helped to crystallise the value of the market, which some said could reach $60bn, despite the traditional music industry never exceeding $20bn. “It’s a good time to be in this business,” adds eMarketer analyst Paul Verna, “but Deezer doesn’t have the deep pockets.” “Music has always been a very important part of our business, but we have also seen that it can be an extremely competitive business and one where you need to innovate as well as invest,”
Deezer, France’s largest music streaming service, aims to show Spotify there is room for others in the sector. Hans-Holger Albrecht, Deezer’s London office CEO, said the flotation of Spotify on the New York Stock Exchange earlier this year for $30bn helped to crystallise the value of the market, which some said could reach $60bn, despite the traditional music industry never exceeding $20bn. “Music has always been a very important part of our business, but we have also seen that it can be an extremely competitive business and one where you need to innovate as well as invest,”