We have full confidence in the Driift team to deliver fantastic results,” he concluded. “Driift has already built an unparalleled reputation for bringing groundbreaking livestreams to music fans all over the world, and we consider that the addition of Dreamstage’s tech and sales platform will take the business to the next level. “Connecting artists and fans through engaging experiences is an essential part of our growth strategy, and adding livestreaming capabilities to our portfolio is a key component to deliver on this ambition.
“As the home of music, this is a milestone moment for Deezer,” said Folgueira. Perhaps the most interesting takeaway from Deezer’s formal announcement message is CEO Jeronimo Folgueira’s ambitious vision for livestreaming – especially as his company looks to break even “by 2025” and generate over $1 billion during the same year. The post-purchase Driift is expected to absorb Dreamstage and continue operating under its existing name, with Ric Salmon (previously a Sony Music and Warner Music A&R exec, currently a partner and director at London’s ATC Management) remaining CEO and Claire Mas (formerly head of digital for Island Records) staying on as COO. Meanwhile, May of 2021 saw Deezer take an interest in Dreamstage, which former Sony Music exec Thomas Hesse founded. One of many livestream businesses that emerged when in-person entertainment was shelved, two-year-old Driift upon receiving the initially mentioned support from Deezer said that it had sold north of 600,000 tickets. Now, Driift has bought another Deezer-backed livestream startup, Dreamstage, and received an additional $4.5 million from the publicly traded streaming service.ĭeezer unveiled Driift’s Dreamstage buyout – and the multimillion-dollar investment – via a formal release today. Photo Credit: Deezer Last October, Deezer acquired a minority stake in ticketed-livestream platform Driift.
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