NEW YORK--(BUSINESS WIRE)--Shazam, one of the world’s most popular apps, today announced significant financial and user milestones.
- Surpassed 1 billion mobile app downloads
- Achieved EBITDA profitability
- Double-digit revenue growth
- Business-model transition to advertising as primary business
Shazam has continued to improve its global leadership in music discovery and deepen the connections between artists and fans. Through integrated partnerships with leading music companies from around the world, Shazam delivers a complete music experience including videos, lyrics, recommendations and more. Additionally, there are over 1,800 artists verified on Shazam that are sharing content with their over 3 billion cumulative followers.
The company recently launched Shazam for Brands to the advertising community. Shazam delivers unique engagement opportunities at massive global scale to its advertising partners. Through promotion within the Shazam app and extended across entire campaigns of TV, print, packaged goods and more, advertisers are able to engage their customers via mobile.
“We are excited to have accomplished these significant milestones in the development of Shazam,” said Rich Riley, Chief Executive Officer, Shazam. “Transitioning our business model to advertising, achieving profitability and crossing one billion downloads are the result of the tremendous efforts of our team. We remain relentlessly focused on delivering magic for our users and results for our advertising partners, and couldn’t be more excited about our future."
Shazam is one of the world’s most popular apps, used by hundreds of millions of people each month to magically connect to the world around them. Building on its pioneering leadership in music identification, Shazam now helps people discover, interact with, and share video, audio, or printed content on TV, radio, movie screens, magazines, newspapers, packaged goods, and retail stores - and now Shazam lets music fans follow their favorite artists to see their Shazams and share in the thrill of discovery. The app has been downloaded over 1 billion times and has exceeded 30 billion total Shazams since its launch, and users Shazam over 20 million times each day. For more information on how Shazam has created new technology tools for brands to utilize data, visit www.shazam.com.