Streaming music service Deezer expands into talk radio with Stitcher deal
By Alexei Oreskovic
SAN FRANCISCO (Reuters) - Online music service Deezer is acquiring radio and podcasting app Stitcher, adding a vast catalog of talk radio programs that the company hopes will make it stand out in a crowded streaming music market.
Deezer said the acquisition will give it access to roughly 35,000 radio shows and podcasts, including popular talk radio programs such as This American Life and BBC.
Deezer did not disclose financial terms of the deal for Stitcher, which was founded in 2008 and has raised nearly $19 million in funding, according to media reports. Stitcher’s service is built-in to 50 different car models, according to Deezer.
Digital music is attracting a growing number of consumers and companies as sales of physical compact discs decline.
Earlier this week, Google Inc updated its Play Music service with new recommendation features that the company acquired through its purchase of startup Songza. Apple Inc, Amazon.com Inc, Spotify and Pandora Media Inc are all vying to attract consumers to their streaming music services.
Deezer, which is based in Paris, has said it has 5 million paying subscribers.
(Reporting by Alexei Oreskovic:Editing by Cynthia Osterman)
© Thomson Reuters 2017 All rights reserved.