(Boursier.com) — Deezer opens a new chapter for UK-based live music streaming leader Driift. Driift acquires Dreamstage and will receive a new investment of £4 million from Deezer. Through this operation, the two players unite the production capabilities of Drift and the technological and commercial platform of Dreamstage. The new entity will continue to operate as Driift, as an independent company, and will continue to be led by its CEO, Ric Salmon, and its COO, Claire Mas. With Deezer’s total investment of around $7 million this year, Drift has “the cash to execute on its business plan and accelerate its growth.” Following investments in the two companies in 2021 and 2022, Deezer became a minority shareholder in Diift and a majority shareholder in Dreamstage prior to the transaction. Following this merger and its new investment, Deezer will become the main shareholder in Drift.
Founded in August 2020 by Ric Salmon and Brian Message of ATC Management, Driift has hosted numerous high profile live streaming events for some of the world’s biggest artists and performers, collaborating with multiple creators and distributors and winning major awards. In May 2022, Dreamstage provided the platform for Driift to successfully host a global Little Mix livestream from London’s O2 Arena. This event generated the sale of more than 85,000 tickets worldwide.
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