This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Deals Digital Live Business
Deezer rejigs livestreaming interests as Driift acquires Dreamstage
By Chris Cooke | Published on Friday 30 September 2022
Deezer has announced a rejig of its livestreaming interests, with Dreamstage becoming part of Driift in a move that will, say the three companies, “bring together Driift’s award winning production capabilities with Dreamstage’s best-in-class technology and commerce platform”.
The digital music firm invested into US-based Dreamstage back in May 2021, and then in October the same year became a minority shareholder in Driift – the livestreaming business founded by Brian Message and Ric Salmon from UK-based ATC Management. Under the new deal, Driift will both acquire Dreamstage and get a new £4 million investment from Deezer, with the streaming firm becoming the largest shareholder in the expanded Driift company.
Driift will continue to operate under that brand as an independent entity headed up by Salmon as CEO and Claire Mas as COO. Deezer adds that: “With a total investment from Deezer of around $7 million this year, Driift has secured enough funds to execute on its business plan and accelerate growth”.
Confirming all that, Deezer CEO Jeronimo Folgueira says: “As the home of music, this is a milestone moment for Deezer. 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”.
“Driift has already built an unparalleled reputation for bringing groundbreaking livestreams to music fans all over the world”, he adds, “and we consider that the addition of Dreamstage’s tech and sales platform will take the business to the next level. We have full confidence in the Driift team to deliver fantastic results”.
Meanwhile, Salmon says: “This is an exciting new chapter for Driift. Over the past two years we have become genuine pioneers in the livestreaming space. We’ve collaborated with certain of the world’s most talented artists, filmmakers and creators to deliver online events that have been part of the latest redefinition of the livestreaming format. Our team has shown a proven ability to innovate, selling hundreds of thousands of tickets and generating millions of dollars in revenues already”.
“Through Deezer’s investment”, he goes on, “we are confident that our upward trajectory will accelerate. We are delighted to welcome Dreamstage’s hugely talented team of developers, engineers and customer service personnel into the company. We can now offer a fully integrated livestreaming solution to our partners, with production, promotion and what we see as a market-leading technology and revenue generating platform under one roof”.
“It is a major cultural shift”, Salmon concludes, “and we look forward to bringing an even greater range of live experiences to truly global audiences”.
