Deezer has reported Q3 2025 revenues of €131.4 million ($153.5 million), down 1.1% year-on-year at fixed foreign money, as progress in its Direct subscriber enterprise offset an anticipated decline in its Partnerships section.
The French streaming firm additionally confirmed its full-year steerage, anticipating flat to barely declining revenues YoY, whereas projecting optimistic adjusted EBITDA in H2 and optimistic free money stream for the total yr.
Deezer splits its revenues into three segments: ‘Direct’; ‘Partnerships’; and ‘Different’.
The corporate reported that its Direct section was supported by “sustained subscriber momentum,” with its Direct subscriber base rising 9.7% YoY to 5.5 million on the finish of Q3.
Direct revenues reached €87.9 million ($102.7m) in Q3 2025, up 3.1% YoY at fixed foreign money in comparison with €85.8 million in Q3 2024.
The corporate mentioned this income progress was pushed by “robust momentum in France” with its subscriber base in its dwelling market rising to 3.7 million (up 11.7% YoY on a like-for-like foundation), reflecting what Deezer known as the success of its household affords.
Deezer’s whole subscriber base on the finish of Q3 throughout the ‘Direct’ and ‘Partnerships’ segmentsstood at 9 million, down 6.7% YoY.
The corporate famous that subscriber progress in France has accelerated for 3 consecutive quarters, rising from 6.4% YoY progress on the finish of Q1, to 8.3% on the finish of Q2, and 11.7% on the finish of Q3.
Direct subscribers within the ‘Remainder of World’ reached 1.8 million, up 6.1% YoY on a like-for-like foundation, which Deezer attributed to its “rising model attraction, product innovation and stance on transparency and equity within the music business.”
Partnerships income amounted to €35.6 million ($41.6m) in Q3 2025, down 13.2% YoYat fixed foreign money from €41.5 million in Q3 2024.
The corporate mentioned this decline “primarily mirrored the residual impression of the Mercado Libre mannequin shift,” referring to the conversion of promotional subscription cohorts to full-price premium affords, partly offset by contributions from RTL+ and different current partnerships.
Partnerships subscribers stood at 3.5 million on the finish of Q3, in comparison with 4.7 million in Q3 2024, representing a 24.5% YoYdecline.
Nonetheless, ARPU within the Partnerships section rose 11.2%YoY to €3.2, which Deezer attributed to “a greater combine” because it focuses on higher-value partnerships.
Different income, which includes promoting and ancillary income, amounted to €7.9 million ($9.2m) in Q3 2025, up 20.5% YoYat fixed foreign money from €6.7 million in Q3 2024.
Deezer mentioned this progress “primarily mirrored the efficiency of the white labelling options for {hardware}/media companions.”
“Subscriber progress in France has accelerated for a 3rd consecutive quarter, confirming the optimistic impression of our differentiation initiatives.”
Alexis Lanternier, Deezer
Alexis Lanternier, CEO of Deezer, mentioned: “Subscriber progress in France has accelerated for a 3rd consecutive quarter, confirming the optimistic impression of our differentiation initiatives in our dwelling market.
“In the remainder of the world, subscription numbers within the Direct section are additionally selecting up tempo, reflecting the standard of our service and the attraction of our model as we champion transparency and equity in music streaming.”
He added that Deezer’s AI detection system and new personalization options are “attracting international consideration, opening alternatives past our core markets,” and that the corporate is “main the way in which in defending artists and rights holders, whereas delivering progressive, unforgettable music experiences for followers.”
Final month, Deezer reported that absolutely AI-generated music now constitutes 28% of all tracks delivered to its platform every day.
In accordance with the platform, as much as 70% of performs for these absolutely AI-generated tracks have been detected as fraudulent, with the corporate filtering these streams out of royalty funds.
Though absolutely AI-generated music at present accounts for under round 0.5% of all streams on Deezer, the platform believes the first goal of importing these tracks is fraudulent exercise moderately than real artistic expression.
The corporate rolled out an AI tagging system to struggle streaming fraud in June.
Elsewhere, Deezer famous that it not too long ago introduced the launch of common sharing for playlists, following the introduction of common sharing for particular person songs in April 2025.
The characteristic allows customers to share Deezer playlists that may be opened on Spotify, Apple Music and YouTube Music. Utilizing automated music recognition expertise, Deezer identifies equal tracks throughout platforms and redirects customers to the suitable model of every music.
The corporate additionally highlighted its partnership diversification efforts, together with offers with Norlys in Denmark, Health Park and Molotov TV in France, and alternatives via Deezer for Enterprise.
In Brazil, Deezer has entered an unique settlement with Azerion, a digital leisure and media platform, for audio and video monetization. The partnership features a direct integration with Hawk, Azerion’s demand-side platform.
EUR to USD conversions on this report have been made on the common price for the interval in accordance with the European Central Financial institutionMusic Enterprise Worldwide
