Global audio streaming service Deezer has hired Jeronimo Folgueira as its new CEO.
He takes over the role from Hans-Holger Albrecht, who has led Deezer since 2015.
In announcing Folgueira’s arrival today (May 20), Deezer also gave an official update on its stats, noting it currently boasts “16 million monthly active users around the world [with] a leading catalog of 73 million tracks, podcasts and radio stations”.
The CEO transition will take place at the end of June 2021. Hans-Holger Albrecht will continue to support Deezer as a Member of the Board of Directors.
Before joining Deezer – which is majority owned by Access Industries – Folgueira served as Chief Executive Officer and Director of the Board of Spark Networks (NYSE: LOV) in Berlin.
Spark Networks is an online dating company that owns platforms such as SilverSingles, EliteSingles , Jdate, Christian Mingle, and AdventistSingles.
Folgueira is said to have led the transformation of Spark Networks through three strategic M&A transactions, quadrupling the size of the company in four years.
He also oversaw the company’s listing on the New York Stock Exchange in November 2017, which made him the youngest European CEO on the NYSE at the time.
Folgueira has also held a number of senior management positions, including at Betfair, Bigpoint and RTL Group. He is a Member of the Board of Directors of Tio Tech, a Nasdaq listed SPAC that aims to help European unicorns access US capital markets.
Folgueira will now begin his work with Deezer’s Board of Directors, executive management and team to transition to his new role in June.
“I couldn’t be more excited to join Deezer.”
Jeronimo Folgueira said: “I couldn’t be more excited to join Deezer. I’m passionate about music and podcasts. They hold a unique place in our hearts and Deezer’s team has built a service that is the perfect companion to people’s daily lives.
“Deezer is a key player and contributor to the fast growth of music streaming around the world. We have a highly competitive platform with unique features that listeners love.
“That means we’re in a great place to accelerate our growth and capture many new opportunities, which will benefit both artists and music fans. I look forward to getting to know the team and writing the next chapter in the company’s history together.”
“My years as the CEO of Deezer have allowed me to lead a fantastic team on a growth journey.”
Hans-Holger Albrecht, Deezer
Hans-Holger Albrecht, CEO of Deezer, added: “My years as the CEO of Deezer have allowed me to lead a fantastic team on a growth journey.
“With the support of all shareholders and partners, a passionate team of 600 people have built the 4th largest global audio streaming service in the world. Our revenues have grown over 300% in the last five years and our platform averages more than 600 monthly streams per active user.
“We have a clear strategy in place to deliver long term, sustainable growth and value for shareholders, artists and users.
“The recent investment in Dreamstage will also allow us to continue innovating the relationship between artists and fans.”
“My special thanks go to Len Blavatnik, who has been an amazing supporter and shareholder during these years, and to my Chairman, Guillaume d’Hauteville. He’s been a perfect wingman and creative partner and I look forward to working with him and the rest of the Deezer Board as an advisor and Board Member. I will also continue to be an investor in Deezer going forward,” added Hans-Holger.
“[Jeronimo’s] experience, vision and passion make him the perfect leader to build on the success we’ve had so far.”
Guillaume d’Hauteville, deezer
Guillaume d’Hauteville, Chairman of the Board of Deezer, said: “I look forward to working with Jeronimo. His experience, vision and passion make him the perfect leader to build on the success we’ve had so far and grow Deezer going forward.
“I would also like to thank Hans-Holger for his service and dedication. His leadership and focus have helped Deezer grow into a global player that challenges international giants, helps artists thrive and delivers a unique service to customers.
“It has been a pleasure to work closely together all these years and I look forward to having him on the Board of Directors.”
In recent months, Deezer, now a $1.4 billion company, has increased its presence and investment in global live streaming and video services.
In May, the company became what it called a “cornerstone investor” in DREAMSTAGE, a US-based live music streaming startup. The month before, it entered into a strategic partnership with Globoplay, a Brazilian video streaming provider and potential Netflix rival.Music Business Worldwide