Deezer’s Q3 numbers dropped, and they’re… fine. Mostly.

October 30

	Paris-based streamer Deezer just put out its third-quarter results for 2026. Total revenue came in at €133.8 million (about $149 million), up a modest 1.8% from the same stretch last year. Not exactly fireworks, but growth is growth when a lot of the industry still feels like it’s treading water. The interesting part is where the money is coming from. Direct subscriptions (the people who actually sign up and pay Deezer themselves) brought in €94.1 million, up 7%. Partnerships—those bulk deals with phone companies, banks, or whoever—dropped 6.2% to €33.4 million. Other revenue slid almost 20%. So the core product is doing okay; the side hustles are shrinking. Subscriber count tells the same story. Total paid users ended the quarter at 8.7 million, down 3.2%. But the ones who chose Deezer on purpose hit 5.8 million (up 5.7%). Partnership subs fell hard, to 2.9 million. That old Mercado Libre deal in Latin America is still slowly dying, which explains a chunk of the drop. France remains the real engine: 3.9 million direct subscribers there (up 6.5%) and €84.7 million in revenue (up 3.8%). Everywhere else is softer. Direct ARPU stayed basically flat at €5.40 a month. Partnership ARPU jumped because the remaining deals are apparently better quality, or at least less diluted. Deezer is raising its full-year guidance a bit and now thinks revenue will grow slightly over 2025. They’re also eyeing adjusted EBITDA around €10 million for the year. Nothing wild, just “we’re not bleeding.” CEO Alexis Lanternier leaned into the usual line about “building lasting connections between artists and fans” and “giving listeners more reasons to choose Deezer.” They’re also pushing Deezer for Business stuff—working with SACEM on some new tool and still talking about the Winamp deal (yes, Winamp still has 40 million users somehow). They upgraded HiFi quality earlier this month and are about to add a toggle so you can turn off AI-generated uploads if you want. Small moves, but the kind that actually matter if you’re the type who cares about what you’re listening to. Bottom line: Deezer isn’t exploding, but the people who actively pick it are sticking around and growing a little. The partnership fat is getting trimmed. For an independent-minded service in a world still dominated by the usual suspects, that’s not nothing. Source: https://www.digitalmusicnews.com