Deezer claims $1.4bn valuation with TV Azteca partnership in Mexico
Posted on: 2 juillet 2020, by : Stuart Dredge

Deezer is doubling down on Latin America courtesy of a partnership with Mexican broadcaster TV Azteca that it says values the music streaming service at €1.3bn ($1.4bn).
That’s based on a $40m investment in Deezer by TV Azteca over “a multi-year period”, and would mean that Deezer has not just maintained its ‘unicorn’ status – the term used for companies worth more than $1bn – but has grown in value by 30% since its $185m funding round in August 2018.
The deal isn’t just about investment. TV Azteca will be promoting Deezer across its television networks in Mexico, with more marketing through other subsidiaries of its parent group Grupo Salinas – for example retail chain Grupo Elektra.
On the TV side, Deezer is taking over a weekly show called Mugo Live on Mexican TV channel Azteca Uno, which has two million viewers, and renaming it ‘Deezer Live’. Deezer will also acquire social music app Mugo, although it is shutting it down and offering users a free Deezer Premium trial, rather than keeping it running.
The post Deezer claims $1.4bn valuation with TV Azteca partnership in Mexico appeared first on Music Ally.
Source: Music ally

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