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Major labels take minority stakes in Shazam

By | Published on Thursday 15 May 2014


The three major labels – Universal, Sony and Warner – have all taken minority stakes in music identification service Shazam, according to The Wall Street Journal.

The WSJ states that each company has invested $3 million in Shazam, which is valued at around $500 million.

Shazam has increasingly been entering into marketing partnerships with major label artists recently, and earlier this year signed a deal to launch its own label as part of the Warner Music Group.