Deezer secures £81m fundraising

Music streaming service Deezer has secured $130m (£81m) in funding from Access Capital, the owner of Warner Music. The French company also said it had hit 2m paying subscribers a year after its worldwide launch. Unlike its major rival Spotify, Deezer said it has been profitable since 2010 thanks to “long and patient work with both the record labels and the artists themselves”. The fundraising is France’s biggest ever, and could strengthen links between Deezer and Warner Music.