Stu Bergen has been appointed interim CEO of France-headquartered music streaming platform, Deezer.
His appointment to the CEO role, effective April 1, 2024, follows the recent publication of the company’s financial results for 2023 and the departure of its CEO, Jeronimo Folgueira.
Deezer generated revenues of €484.7 million in 2023, up 7.6% YoY at constant currency. The company counted 10.5 million global subscribers at the end of December 2023, which was up 11.5% YoY.
Bergen was formerly the long-time CEO of Warner’s International Recorded Music operations outside the US and UK. After 14 years at Warner, he left the major music company in January 2021.
There is a long-running link between Deezer and WMG, of course: Warner Music Group’s controlling shareholder, Access Industries, is also a shareholder in the music streaming firm. (Access was the principal shareholder in Deezer before the latter firm went public in Paris via a SPAC merger with I2P0 in 2022; Access remains a stakeholder in Deezer post-flotation.)
Bergen has served as an independent non-executive director on Deezer’s board since February 2023.
He will serve as interim CEO until the appointment of a new permanent Chief Executive Officer, and will remain a member of the Deezer Board of Directors.
Deezer said on Wednesday (March 13) that Bergen’s “in-depth knowledge of the music and digital industries, coupled with his tenure as a director on Deezer’s board, positions him perfectly to boost the company’s strategic direction and facilitate a seamless transition”.
The company added that he “will play a pivotal role” in guiding its “efforts towards bolstering its direct subscriber base in key markets, fostering partnership growth to facilitate international expansion and achieving free cash flow positivity in 2024”.
”I am honored to accept the interim CEO role at Deezer at this pivotal time. I am committed to strengthening the company’s values and driving its growth trajectory forward.”
Stu Bergen
Stu Bergen said: ”I am honored to accept the interim CEO role at Deezer at this pivotal time. I am committed to strengthening the company’s values and driving its growth trajectory forward.
“With the dedicated team and clear objectives already in place, I am eager to lead us through this period of transition, ensuring the company is prepared for its ambitious future.”
“On behalf of the Board, I would like to thank Stu for graciously accepting the interim CEO position at Deezer during this transitional period.”
Iris Knobloch, Deezer Board of Directors
Iris Knobloch, Chairwoman of the Board of Directors added: “On behalf of the Board, I would like to thank Stu for graciously accepting the interim CEO position at Deezer during this transitional period.
“With his focus on the company’s expansion and his dedicated leadership, we are confident we will continue to make significant strides towards achieving our goals.”Music Business Worldwide