🍿 2022-08-29 18:05:17 – Paris/France.
The service of Streaming France-based musical Deezer is testing a wellness app called Zen in Belgium that features content for guided yoga, meditation and inspiration. The app is currently only available on iOS with an Android version in the works.
In its first earnings call after the company went public via a SPAC in April, CEO Jeronimo Folgueira said the company plans to roll out the meditation app in 2023 and sees a big opportunity to "cross-sell content." ". Deezer declined to give further details on the launch.
The iOS app page specifies that the app hosts 600 exclusive content across all categories. Users can create a new account for the app or log in with their existing Deezer account. A community post says the app can suggest content based on your mood (good, neutral, bad) and goals such as reducing stress, sleeping better, improving relationships and increasing focus. Sessions range from soothing sounds for better focus and relaxation to guided chapters for yoga and breathing.
The company's first-half 2022 results noted that the service of Streaming had lost 300 subscribers, dropping from 000 million to 9,7 million users. Spotify's competitor represents only 9,4% of the global market for Streaming musical. Besides songs, Deezer has other content offerings like podcasts and audiobooks. Its entry into the meditation space could be another step towards expanding its user base.
Once Deezer launches Zen in a wider market, it will compete with giants like Calm and Headspace Health. Both of these companies have attempted to expand their services by offering physical activity and mental health features.
Research suggests that by 2030, the global market for mental wellness apps will reach $17,5 billion. Deezer would therefore naturally want to gain a significant share of it.
SOURCE: Reviews News
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