Deezer completed the acquisition of a minority stake in Driift.

Deezer, a music streaming company, completed the acquisition of a minority stake in UK-headquartered Driift, a producer and promoter of live streamed music events. Financial terms were not disclosed. “Live streaming is a rapidly growing industry that is redefining how fans engage with their favourite music. Companies like Driift help artists reach people all over the world to generate new revenue streams. Deezer has been a music industry innovator since the very beginning. Our investment in Driift is the next step in our expansion in this exciting and fast growing space. It also follows our strategic investment in the live streaming platform Dreamstage in May this year. I look forward to working with Ric and Driift’s management team,” Jeronimo Folgueira Deezer CEO.