Report: WMG, UMG And Sony All Invest In Shazam

Infusion Of $$$ From Labels

THE WALL STREET JOURNAL reports WARNER MUSIC GROUP owner ACCESS INDUSTRIES, VIVENDI’s UNIVERSAL MUSIC GROUP and SONY MUSIC ENTERTAINMENT are each investing $3 million the music-identification app SHAZAM

The report notes, "For the labels, SHAZAM’s biggest value lies in its role as a marketing partner: The app lets people share the song’s name on social media, download it from APPLE’s iTUNES STORE or stream it on subscription services such as SPOTIFY, WARNER, UNIVERSAL and SONY all own a stake in SPOTIFY, while UNIVERSAL owns 14% of BEATS ELECTRONICS."

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