Deezer, the rival music streaming service to the likes of Spotify and Apple Music, is reportedly taking another run at going public.
Paris-headquartered Deezer’s last attempt at a public listing fell apart in 2015.
The company launched an IPO attempt on the Paris stock exchange in October that year, but slammed the brakes on the process just three days before its deadline, citing difficult “market conditions”.
Today, those market conditions look rather different: In 2015, according to updated IFPI figures, the global recorded music industry generated $14.7bn annually, of which just $2.8bn (19%) came from streaming. In 2021, the global recorded music industry generated $25.9bn annually, of which $16.9bn (65%) came from streaming.
Deezer going public in 2022, then, potentially represents an opportunity for the French platform to realize value from the explosion in growth of the global music streaming market over the past decade.
One individual who may be particularly keen on the realization of that value is Len Blavatnik, the founder of Access Industries.
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Access, the majority-owner of Warner Music Group, increased its stake in Deezer in 2016 to take a controlling share in the music streaming company.
Financial data from France today suggests that Len Blavatnik, as a Beneficial Owner, personally controls a 28.95% stake in Deezer.
Other modern-day shareholders in Deezer include telco company Orange, plus Saudi Arabia’s Kingdom Holding Company.
According to Wall Street Journal sources, Deezer is currently nearing a deal to go public via a merger with a Special Purpose Acquisition Company (SPAC).
Who is that SPAC? They will certainly be familiar to MBW readers.
Last summer, we told you about a new Paris-based SPAC – I2PO – which had around $325m in capital at its disposal, and was backed by the billionaire Pinault family’s holding company.
Source: Music Business Worldwide
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