Friday, 10 May 2013

Shazam generates $300 million in music sales a year

"So it turns out that Shazam is generating a ton of music sales, according to stats just shared by the company.  That is, $300 million worth of digital download sales a year, generated immediately after song recognitions.  And those are just the sales that can be directly tracked.  
This is arguably one of the most impulse-perfect moments for fans, and it's working.  The figure [was] presented Thursday by Shazam executive vice president David Jones during a detailed presentation at NARM.
Jones confirmed to Digital Music News that this is an annual, gross figure on digital downloads only, with Shazam's referral cut amounting to something substantial.  "We get a single-digit percentage revenue share on that," Jones relayed.  "Thankfully with that number, it adds up to a revenue stream that helps pay the bills.""

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