Jeronimo Folgueira replaces Hans-Holger Albrecht as CEO of Deezer

By Emmanuel Legrand

A change of leadership took place at the fourth largest music streaming service with Hans-Holger Albrecht replaced as CEO of Deezer by Jeronimo Folgueira (pictured, below). The transition will take place at the end of June 2021.

  Folgueira was previously Chief Executive Officer and Director of the Board of Spark Networks in Berlin, overseeing the company’s listing on the New York Stock Exchange in November 2017.

  Based at Deezer's headquarters in Paris, Folgueira reports to the company's Board of Directors. Folgueira will from now on work with Deezer’s Board of Directors, executive management and team to "ensure a smooth transition in June."

Accelerate growth

  Guillaume d'Hauteville, Chairman of the Board of Deezer, said Folgueira's "experience, vision and passion make him the perfect leader to build on the success we've had so far and grow Deezer going forward."

  Folgueira said 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.”

  Albrecht, who had been in the job since 2015, will continue to be involved with the company as a  Member of the Board of Directors. In a statement, Albrecht praised his team for building a strong streaming business.

A clear strategy

  He said: "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.”

  Albrecht also thanked Access Industries CEO Len Blavatnik, the main shareholder of Deezer, whom he described as "an amazing supporter and shareholder during these years," and d’Hauteville, calling him "a perfect wingman and creative partner."

  Available in over 180 countries worldwide, Deezer counts 16 million monthly active users around the world, although the service does not disclose its total number of subscribers. It claims to offer the "most diverse global music streaming catalogue on any device" with 73 million tracks, 70 million of which are in high fidelity sound.