NEWS8 July 2013

Shazam follows-up TV metric launch with $40m investment

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UK — Media identification service Shazam has received a $40m investment from America Movil, a Mexican telecoms company owned by Carlos Slim, ranked by Forbes as the world’s richest man.

Shazam has developed a mobile app that can capture sound and identify the name of a song by analysing its acoustic fingerprint against a database of millions of tracks.

More recently it has expanded into TV show identification, and it can also be used by advertisers to get people to interact with their content. This led it to launch a TV metric in June to help brands gauge the effectiveness of their campaigns by combining third-party industry data on the number of people that viewed a particular ad with the number of people who engaged with that same ad through Shazam.

CEO Rich Riley said: “Shazam’s expansion into television has moved the company into an entirely new phase of growth with interactive advertising generating new sources of revenue and partnerships with broadcasters encouraging a broader group of people to use Shazam more frequently.

“We look forward to working with America Movil to launch these services in the region as we seek to increase our ubiquity throughout the world.”