With over 100 million monthly users and more than 15 billion Shazams, I’m clearly not alone in my love for the music app. Just to put it into perspective, Spotify, in comparison, currently attracts 75m active users, whilst Apple Music has somewhere around 11m. Essentially, Shazam uses a plethora of information to recognise and analyse music preferences from around the world.
Where would we be without Shazam? I’m ready to admit it: Shazam is my favourite app. Ever.
It’s that clever that even the music industry is now using it to plan artists’ tours as the app can narrow the searches down to locations. Demi Lovato put her fans into the driver’s seat of her tour bus by announcing a partnership with Shazam which allowed Demi’s fans to pick where she would play on her European tour based on the amount of tags she received from each city. In turn Shazam increased not only its users, but also its brand awareness. Shazam and Demi got over two million Shazams in just 24 hours. It was a win-win situation for both.
Record companies have now cottoned on to the fact that Shazam is a potential musical data goldmine. Through the sheer amount of tags that Shazam receives, it allows them to predict future hits – something that is priceless to record companies. Warner Music Group capitalised on this by becoming the first label to sign an official deal with the music app last year. This allows the label to be able to analyse Shazam’s data which has even resulted in them creating a smaller division focusing solely on artists found on Shazam.
Shazam has really progressed from just being the app you open to find out a song. It’s now shaping the career paths of future stars. Rachel Platten’s Fight Song has a lot to thank Shazam for. The song was played on just one American Radio station and the sheer amount of attention it gained on Shazam earned Rachel a record deal just 72 hours after the song aired. The song is now an international hit and supports Shazam’s theory that it can predict chart number ones 33 days in advance. The organisation even got 67% accuracy when predicting this year’s Grammy winners.
The impact that these partnerships have had on Shazam is evident, now positioning the app as a vital player in the music industry. These partnerships as well as additional ones with companies including Disney and Google (this partnership has resulted in Shazam now officially being a verb)has secured $30million of investment into the business. The company is now valued at more than $1 billion.
Pretty impressive for the app known for just letting you know what that song is.