Deezer Taps Industry Veteran as new CEO for Continued Growth

Streaming platform Deezer proudly welcomes Jeronimo Folgueira, an industry veteran in the digital and content creation world, as its new CEO - he'll be taking the lead to guide the music and content streaming service to its next chapter.

Folgueira will be receiving the reins as Hans-Holger Albrecht steps down from the position but will continue supporting Deezer as a member of its Board of Directors. The leadership transition is set to take place by the end of June 2021.

An Industry Veteran at the Helm

Before taking the helm at Deezer, Jeronimo Folgueira has served as the Chief Executive Officer (CEO) and the Director of the Board of the global dating leader Spark Networks based in Berlin, Germany. During his stay as CEO and Board Director, he oversaw the growth of the company as characterized by its listing on the New York Stock Exchange (NYSE) back in November 2017. This achievement made Folgueira the youngest European CEO listed on the NYSE at the time.

Aside from his stint at Spark, Jeronimo Folgueira also held a variety of senior management positions, which includes online betting exchange Betfair, German browser-based game developer Bigpoint, and content creation leader in Europe RTL Group. He completed his Masters in Business Administration (MBA) from the Columbia Business School and his Bachelor's Degree in Economics from the University of Navarra in Spain. Folgueira is also a member of the Board of Directors of Tio Tech, a NASDAQ-listed special purpose acquisition company (SPAC) that works to support European unicorns - startup businesses valued at 1 billion USD - to access the capital markets in the United States.

Continuing Deezer's Growth

"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," the newly-appointed Deezer CEO said in a company statement. " 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."

Folgueira also adds that the streaming platform is currently in a "great place" for accelerated growth and secure new opportunities set to benefit both artists and fans.

"I look forward to getting to know the team and writing the next chapter in the company's history together," Folgueira adds.

On the other hand, outgoing CEO Hans-Holger Albrecht commented: "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." He notes that Deezer grew by more than 300 percent during the last five years, with the platform averaging 600 monthly streams for every active user. Albrecht also shared that the company has a "clear strategy" set to deliver sustainable growth for all shareholders, artists, and users - particularly mentioning its recent cornerstone investment with live events streaming platform DREAMSTAGE.