Start-up Deezer is on song with €100m boost

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The Independent Online

Deezer, an online music subscription site that rivals Spotify, yesterday won €100m (£80m) backing from investors including the parent company of Warner Music Group, Access Industries.

The deal for Paris-based Deezer is France's biggest start-up funding round and means an important tie-up to Warner, whose artists include Cee Lo Green, Josh Groban, Madonna, Michael Bublé and Enya. Deezer hosts 20 million music tracks and has seven million monthly users. The backing comes from Access and previous Deezer investor Idinvest.