Deezer, the global music streaming service, is set to accelerate its growth following a capital increase of €160 million from new and existing investors.
Alongside the private placement, Rotana and Deezer have also signed an exclusive long-term agreement to distribute Rotana’s popular digital audio and video content in the Middle East and North Africa (MENA) region. The distribution agreement covers fast-growing entertainment markets including Egypt, Saudi Arabia, Turkey and the United Arab Emirates.
The agreement with Rotana puts Deezer in the driving seat in a fast-growing region with over 400 million people. Deezer will draw on its proven experience as a leader in France and Latin America to power up the development of music streaming in the fast-growing MENA markets.
Kingdom Holding company (KHC) is one of the world’s most successful diversified investment firms that is internationally renowned for its investment in both high-performance global companies and strategic regional interests. Known as one of the largest investors in the world, KHC’s disciplined investment approach spans the globe and includes leading market segments, such as ridesharing, e-commerce and social media (Lyft, Careem, JD.com, and Twitter).