Shazam Works Its Magic

WHAM BAM, THANK YOU SHAZAM: If you’re as impressed with Shazam, the song recognition app, as we are, you won’t be surprised to learn the company generated $300 million worth of digital download sales last year—and those are just transactions that can be directly tracked from the service. That makes Shazam responsible for 7.2% of worldwide digital download sales of $4.117 billion in 2012, or 1 out of every 14 downloads, according to figures presented Thursday by company VP David Jones during a NARM presentation. The service accrues a “single-digit percentage revenue” share on that, with sales doubling every year. “It adds up to a revenue stream that helps pay the bills,” says Jones. Unfortunately, the only thing we recognize here at HITS is how lame we are. And we don’t get paid a cent for that. (5/10p)