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Qobuz Raises €10 Million to Expand Hi-Res Music Streaming Service

Qobuz attracts new investment to grow their hi-res music streaming service to reach more audiophiles who seek the highest sound quality.

Hi-Res Music Matters

Qobuz, the French high-quality music streaming and downloading service, today announced strategic fundraising of 10 million euros to support its international development. The service is now accessible in 12 countries – in France, where it was born in 2007, in the United Kingdom, in Ireland, in Germany, Austria, Belgium, Switzerland, in Luxembourg, the Netherlands, in Spain, in Italy, as well as in the United States, where they opened a subsidiary in 2019.

Qobuz set itself apart with its high-end musical experience based on excellent sound quality and the production of original and unique editorial content. With its catalog of more than 60 million titles, Qobuz claims to have the largest number of high-resolution (hi-res) songs on the market. Music can be been streamed in either lossless CD quality (FLAC 16-bit/44kHz) or Hi-Res quality FLAC 24-Bit up to 192 KHz. The company’s monthly music subscription plans start at $14.99/month and are compatible with many devices including from Yamaha, Roon, Bluesound, Apple’s CarPlay, Android Auto, as well as with iPhone or Android smartphones.

The French service closed its last fiscal year with growth of over 45% and is now pursuing a major development plan. To support the brand’s ambitions in terms of offer, R&D, talent recruitment, and strategic partnerships, in addition to supporting it in its global expansion, its historical shareholders, the Nabuboto company, and the Quebecor Group have renewed their confidence through fundraising of 10 million euros. This follows a previous capital increase of 12 million euros in August 2019.

Goals

To support this development, Qobuz is setting up a new management team and launching a recruitment plan unprecedented in the company’s history. Thus, Georges Fornay, a specialist in the entertainment sector, in particular behind the development and success of the PlayStation on the French and Swiss markets, has been appointed Deputy CEO.

At his side, Céline Gallon joins Qobuz as Chief People Officer. A new role for this seasoned woman in strategic advice and change management. Finally, Raphaël Awóṣéyìn, who has held the position of Head of Quality Assurance within Qobuz for over a year, is appointed Chief Customer Officer. Other major recruitments are already planned by the end of the year.

“We are very proud of this new fundraising from our historic shareholders, which shows their confidence in our model. The end of the year promises to be full of exciting projects for Qobuz. We are also very pleased with the arrival of Georges Fornay, Céline Gallon, and other experienced professionals who are committed to upholding the ambitions of our brand. We are ready to step up our international presence to offer a unique offer to those who do not compromise on musical quality.”, Declares Denis Thébaud, Chairman and CEO of Qobuz.

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Business fact sheet:

  • Qobuz creation date: 2007
  • Chairman and CEO: Denis Thébaud
  • Deputy CEO: Georges Fornay
  • Number of employees in France and worldwide: +60
  • Increase in turnover during the last fiscal year 2019-2020 (1 / 04-31 / 03): + 45.3%
  • Establishment: 12 countries – Germany, Austria, Belgium, Spain, France, Ireland, Italy, Luxembourg, Netherlands, United Kingdom, Switzerland, USA
  • Recruitment: many open positions available on Qobuz / Welcome To The Jungle

Culture fact sheet:

  • Qobuz is available on PC, Mac, web reader and iOS and Android app
  • Streaming: Hi-Fi (CD quality) and high resolution (hi-res), 24-bit frequency – up to 192 kHz
  • Number of titles referenced: +60 million, including the largest number of high-resolution (hi-res) references on the market
  • Number of playlists: +15,000
  • Compatibility with the biggest Hi-Fi brands
  • Uniqueness of Qobuz: its high audio quality and unique editorial angle with +300,000 album reviews, including +77,000 exclusives and +130,000 biographies
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