Shazam trumpets 1B downloads and hits profitability - Mobile World Live

Shazam trumpets 1B downloads and hits profitability

29 SEP 2016

Audio recognition app maker Shazam said it had seen more than 1 billion downloads, as it transitioned to make advertising its primary business and achieved EBITDA profitability.

The company launched Shazam for Brands in April, which it said delivers engagement opportunities on a global scale for its advertising partners.

According to CEO Rich Riley: “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,” he added.

The firm said it achieved double digit revenue growth, but did not disclose any figures.

It also said it now has more than 1,800 artists verified on Shazam that are sharing content with in excess of 3 billion cumulative followers.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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