Deezer, the songs online streaming service supported by billionaire len blavatnik, is making a large wager regarding fast-growing mexican market through a partnership with media mogul ricardo salinas, which values the spotify rival at 1.3bn.

Grupo salinas tv azteca needs a minority stake whoever dimensions has not been revealed in paris-based deezer, among whoever biggest investors is mr blavatniks access industries.

The mexican conglomerate will advertise deezer through its tv companies and grupo elektra stores, in exchange for an undisclosed share of incomes. the value associated with the marketing and advertising it will allow for the streamer over years is really worth $40m.

The deal values deezer at 1.3bn a hefty 30 % advanced towards the companys valuation during its last capital round in 2018, the streaming solution said in a declaration.

Deezers other shareholders feature telecoms team orange, financial investment fund lbo france, saudi conglomerate kingdom holding and rotana, a middle east enjoyment group.

Mexico is amongst the quickest growing music areas in the world, said hans-holger albrecht, deezer leader.

We come across huge development potential in countries like mexico, colombia and argentina and are also investing in advertising and marketing and customer development. our knowledge and number 2 place in brazil will help united states get to be the main challenger in the area, he included.

Spotify, which dwarfs deezer with more than 280m active month-to-month users, labeled mexico city the worlds songs online streaming mecca in 2018. the sound online streaming market in mexico, latin americas second-biggest economy, is expected to-be really worth above $700m by 2024 dual its 2019 size.

Mexico has just over 15m people of songs online streaming services. spotify commands a nearly 85 % share for the marketplace along with other huge people including apple musical and google play, based on the competitive intelligence unit, a consultancy. deezer has actually 16m monthly users worldwide.

Grupo salinas was created by ricardo salinas, mexicos second-wealthiest guy, who's its chairman. his company assets span financial, retail and media and he is an influential company agent to president andrs manuel lpez obrador.

Moshe arel, director of development at grupo salinas, hailed the alliance among the most...disruptive partnerships in the market and another that will help deezer grow in your community while improving television aztecas content supplying.

Included in the price, deezer will take control a regular program on tv azteca labeled as mugo live, watched by 2m viewers every episode, and employ it to display brand new and rising regional skill. additionally it is purchasing the mugo social app. our company is pleased is the glue that connects our strategic lovers, television azteca and grupo salinas, with deezer, said ori segal, mugo chief executive.