March 14, 2017 / 6:57 AM / 5 months ago

BRIEF-FNAC could become shareholder of music site Deezer as companies form partnership

March 14 (Reuters) - FNAC/Deezer:

* Music, books and electrical goods retailer FNAC and music streaming site Deezer announce strategic alliance

* FNAC says it could end up as a shareholder of Deezer

* In January 2016, Deezer said it had raised 100 million euros from shareholders such as French telecoms group Orange and Access Industries, the holding of tycoon Len Blavatnik.

* Deezer competes against the likes of Spotify and Apple Music

* Although growing rapidly, streaming services are as yet unprofitable, as they have high costs for licensing music and face challenges persuading people to upgrade from free versions. They have also been criticised by artists such as pop star Taylor Swift for not paying them enough.

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