March 19 (Reuters) – Deezer said on Thursday it was reshaping and expanding its partnership offerings under a single brand, as the French music streaming platform seeks new revenue streams beyond consumer subscriptions.
Deezer, which competes with Spotify and Apple Music in the crowded music streaming market, operates in more than 180 countries and has built its business around direct subscriptions and distribution partnerships with companies from telcos to restaurant chains and gyms.
The unified “Deezer for Business” platform will focus, in addition to streaming solutions for businesses and its products being integrated into third parties’ consumer offerings, on boosting its AI-detection and advertising offering.
Deezer has also renewed its longstanding partnership with Sonos , expanding the collaboration to include ad-supported monetization on Sonos Radio through the Deezer Ad Exchange.
The streaming group on Wednesday reported a 12.1% decline in its Partnerships revenue to 147.8 million euros ($169.4 million).
($1 = 0.8725 euros)
(Reporting by Mathias de Rozario in Gdansk, editing by Milla Nissi-Prussak)
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