Deezer finally becomes profitable after 18 years, but its growth remains fragile.

After nearly two decades in existence, Deezer has reached a symbolic milestone.

Indeed, in an interview with Billboard, we learn that the French music streaming platform has announced for the first time a profitable annual fiscal year, marking a turning point in its history.

Behind this performance lies a profound strategic transformation… but also questions about its ability to relaunch its growth…

Profitability achieved through discipline Strengthened

In 2025, Deezer posted a positive net income of approximately €8 million, accompanied by an adjusted EBITDA close to €10 million, a first since its creation in 2007. However, this return to profitability is not based on a surge in activity, but rather on increased cost control.

For the past three years, the company has undertaken a strategic refocusing by prioritizing its most promising markets, particularly France and Brazil. This has led to a reduction in operating expenses of approximately €12 million and an overall improvement in its efficiency.

Growth under pressure despite positive signs

While profitability is now achieved, growth momentum remains more uneven. Revenue reached €534 million, a slight decrease compared to the previous year, with this stability masking internal changes. The direct subscription segment, meanwhile, is growing in countries like France, where the number of subscribers increased by more than 8%. Conversely, revenue from partnerships declined, impacted by the end of a key agreement in South America. For Alexis Lanternier, CEO of Deezer, this situation is part of a longer cycle. The objective remains moderate but steady growth, with a multi-year vision rather than a single fiscal year. AI and B2B as new drivers: Beyond its financial results, Deezer is seeking to differentiate itself on key structural issues, starting with artificial intelligence. The platform claims to be taking a proactive stance in the face of the rise of automatically generated content. Every day, tens of thousands of AI-generated tracks are detected on the service, representing a significant portion of new releases. However, their actual share of listeners remains marginal, especially after filtering out fraudulent content. This technical expertise opens up new perspectives for the company, and Deezer is exploring the commercialization of its tools in the B2B market, through white-label offerings or content detection solutions. Among its clients are already brands like Converse and Dunkin’.

A music-centric model, going against the grain

Faced with competitors like Spotify and YouTube, which are focusing on diversification, particularly through podcasts in Spotify's case, Deezer has chosen to remain a pure music player.

This deliberate positioning is accompanied by initiatives like the "Artist-centric" model, which aims to better compensate artists by rewarding active listening and limiting abuse.

But will this more targeted and disciplined strategy be enough to sustainably revive growth in this increasingly competitive market?