Shazam Generates Roughly $300 Million in Annual Digital Sales
The Shazam company executive says that its music program has been driving more than a quarter of a billion dollars in digital content downloads across the major online music outlets. After speaking with The Guardian
at Mobile World Congress in Barcelona, Shazam’s executive vice president of marketing David Jones shared his thoughts on how well the service is doing.
The service’s users are tapping through to buy the content they’re tagging as well, at a clip of about $300 million per year spent on services such as ITunes and Amazon. Most of the revenue seems to be coming from purchased music but TV shows, films and apps are growing as a proportion of Shazam-originated sales.
According to Jones, 20% of all iPhones in the United States used Shazam last month, with the figure between 30% and 40% for European countries such as France, Germany, and the United Kingdom. As of right now, Shazam is currently adding about two million users per week, with some weeks topping three million new users.
The company seeks to continue expanding its offerings, which as of right now include the aforementioned television and film tagging. Jones seems quite confident in the company’s ability to continue growing, but he sees a second-screen advertising market far larger than what the company currently brings in. According to him “while we’re making a ton of money now, compared to the billions of advertising that the networks sell, it’s a smaller thing. That’s the opportunity.”
Shazam has typically always been on my must-have apps as it has helped me identify quite a number of songs over the years. Learning about the sales figures came to no surprise after using the app for so long.
Source: The Guardian