Streaming has yet to convince investors it is future of music industry

Category: Music

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Music streaming was supposed to have come of age with the public listing of Deezer, but the French company's postponement of its stock offer demonstrated investors still have concerns about its economic model. Deezer hit the pause button on the first initial public offering of a music streaming firm at the last minute on Tuesday, citing "market conditions", sending a bad signal for companies in the sector which have so far been dependent on venture funding. Despite a number of major investors being interested, Deezer was unable to fill the order book for the operation which would have valued it at over $1 billion.