Snaps up key audio recognition IP from Broadcast Music Inc.
Seems weird that Shazam has forged a formable rep as a music ID company, but doesn't own all of its technology.
Maybe it thought so too, which is why it has now reacquired what it sold in 2005. It now has unrestricted rights to integrate the technology more fully into its services, expanding its product set and adding to its IP portfolio.
Given that Shazam is now looking beyond music and into TV, advertising and other verticals, you can see the reasoning.
"Shazam has seen fantastic growth in the last year, adding more than 1.5m new people every week, with the total number of Shazamers around the globe now exceeding 165m," said Shazam CEO, Andrew Fisher.
"This is the optimal time to repurchase the technology and patents so that we can continue to add to and protect our growing portfolio which will, in turn, allow Shazam to broaden our range of products, further developing Shazam for TV and other innovative offerings."
Article continues belowAdvertisement
Under the agreement, BMI will retain rights to use the technology in a B2B context to detect and identify performances of music.
It will also become a shareholder in Shazam.
Add a new comment
You need to be logged in to post comments. If you do not have an account then please register.
Comments
0 comments
There are no comments yet, be the first to add one!