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Business News Deals Digital Labels & Publishers
Major labels take minority stakes in Shazam
By Andy Malt | 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.
