Shazam, the music discovery app that was bought by Apple last year with a surprise move, has left the bad days behind. Since the acquisition, the platform has been able to increase revenue.
Established in 1999, Shazam used to convey the song to the user via SMS. Then came iOS, macOS and Android apps. Blending artificial intelligence, the system quickly began to identify songs.
In December 2017, the first time Apple wanted to buy Shazam ‘s claims began to come up. Afterwards, it was announced that Apple bought the platform for 400 million dollars.
With the acquisition, Shazam began offering a list of Top 50 Discoveries in many countries and received 20 million requests daily. This move significantly increased the number of users of Shazam . Of course, integration with Apple Music should not be forgotten.
According to Shazam’s 2018 financial report, the platform earned 478 million users. The previous year, the number was around 400 million. In addition, in 2017, he managed to turn around losses of around $ 20 million to make a profit of $ 158 million. So to join the ranks of Apple was the lucky charm of the platform.
Shazam has increased its expectations in the current period. Both in terms of number of users and income, the platform thinks that the rise will continue.